Mexico Shields Trade with U.S. Amid New Tariff Storm

Mexico's Economy Minister Marcelo Ebrard reassures that the new US tariffs won't affect Mexico due to the USMCA, keeping 85% of Mexican exports tariff-free. Ebrard confirms that the tariffs replacing previous ones ensure steady trade relations, with some goods temporarily subject to Trade Act conditions.

In a decisive announcement, Mexico's Economy Minister Marcelo Ebrard assured that Mexico's trade with the United States would remain largely unaffected amid new U.S. tariffs. The U.S. government's decision to impose tariffs of 10% and 12.5% on 60 trading partners won't impact Mexican exports significantly, thanks to exemptions provided under the USMCA.

Ebrard, addressing the issue in a social media video, explained that about 85% of Mexican exports to the U.S. would continue without tariffs due to the USMCA agreement. He elaborated that another 10% of goods, temporarily governed by Section 122 of the Trade Act of 1974, will not face immediate tariff changes beyond the newly placed restrictions.

The adjusted duties are scheduled to commence as the preceding tariffs expire, essentially maintaining the status quo for affected goods. Ebrard emphasized, 'One replaces the other, so tariff treatment is maintained,' affirming stable trade relations between Mexico and the U.S. moving forward.