Mexico’s financial system secretary to fulfill with Trump officers in US in ‘first dialog’ on commerce

MEXICO CITY (AP) — Mexico’s Economic system Secretary Marcelo Ebrard stated Tuesday that he’ll meet with Trump administration officers in Washington on Thursday in what he known as “the primary dialog” in a collection 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 to date 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 america, and what the brand new administration goals to attain,” Ebrard informed reporters on Tuesday. “Then we’ll put Mexico’s arguments on the desk, notably these regarding the (financial) integration between the 2 nations.”

Ebrard stated he would meet with Secretary of Commerce Howard Lutnick and plenty of Trump officers in a dialog that might 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 spread of different proposals to “enhance” the prevailing 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 doubtless begin a commerce struggle, with Mexico President Claudia Sheinbaum promising reciprocal tariffs, each of which might end in worth will increase for American customers.

Whereas Mexico has sought to diversify its commerce relationships, economists say many years of free commerce and geographic proximity restrict its capacity to make vital adjustments within the brief 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 stated.

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