MEXICO CITY — Mexico’s Financial system Secretary Marcelo Ebrard mentioned Tuesday that he’ll meet with Trump administration officers in Washington on Thursday in what he referred to as “the primary dialog” in a sequence of negotiations between the 2 international locations.
The assembly comes at a fragile second for the 2 neighbors, whose bilateral commerce exceeded $800 billion final 12 months. U.S. President Donald Trump has threatened to impose 25% tariffs on all imports from Mexico — although thus far restricted them to metal and aluminum — and signed an govt order to rename the Gulf of Mexico because the Gulf of America.
“In our first assembly, we are going to make clear the proposals put forth by the US, and what the brand new administration goals to realize,” Ebrard advised reporters on Tuesday. “Then we’ll put Mexico’s arguments on the desk, significantly these in regards to the (financial) integration between the 2 nations.”
Ebrard mentioned he would meet with Secretary of Commerce Howard Lutnick and various Trump officers in a dialog that will concentrate on the metal and aluminum tariffs, in addition to the significance of the nation’s bilateral commerce relationship. Ebrard added that he hoped to make a variety of different proposals to “enhance” the present commerce relationship.
In the meantime, Trump’s wider tariff risk looms, one thing analysts say may set off a recession in Mexico. The imposition of broader tariffs would probably begin a commerce battle, with Mexico President Claudia Sheinbaum promising reciprocal tariffs, each of which might end in value will increase for American customers.
Whereas Mexico has sought to diversify its commerce relationships, economists say a long time of free commerce and geographic proximity restrict its capability to make vital adjustments within the quick time period.
Ebrard on Tuesday appeared decided to keep away from an escalation.
“Our response won’t ever be rancor or battle, however reasonably a continued effort to maneuver ahead,” Ebrard mentioned.
____
Comply with AP’s protection of Latin America and the Caribbean at https://apnews.com/hub/latin-america
