The Ministry of Economy reported that a Mexican delegation headed by Marcelo Ebrard described the new US tariffs that will apply from August.
The agency presented in a statement that on Friday the delegation met with representatives of the Government of Donald Trump to install a permanent binational work table that will deal with issues such as security, migration and economy.
“It was announced that, as part of the deep change in the United States commercial policy, all countries would receive a letter marked by the president of the United States, establishing new rates from the first August. We mentioned at the table that it was an unfair treatment and that we did not agree,” said the statement on Saturday.
Lee: Trump announces 30% tariffs to Mexico and Europe and intensifies the commercial war
The agency added that it was agreed that the first task of the binational table will be to conduct the work so that before that date there is an alternative that allows to protect companies and jobs in both countries.
“It is very relevant to have established since July 11 the road and space necessary to resolve any possibility that new tariffs enter into force on August 1. That is, Mexico is already in negotiations,” he said.
President Trump announced on Saturday a 30% tariff to imports from Mexico and the European Union as of August 1, after weeks of negotiations with these key commercial allies that failed to reach a broader commercial agreement, the Reuters agency reported earlier.
The new tariffs were announced in separate cards published in the Truth Social Network this Saturday.
Mexico has not done enough in front of the narco: Trump
The Republican said that Mexico has helped ensure the southern border of the US, but that it has not been enough.
“Mexico has been helping me to ensure the border, but what Mexico has done is not enough. Mexico has not yet stopped the cartels that are trying to turn North America into a recreation patio of drug trafficking,” Trump wrote.
Mexico sends more than 80% of the total assets exported to the United States and free trade with its northern neighbor led Mexico to overcome China as the first commercial partner in the United States in 2023.
“What are Trump trying to do? Pressing to achieve your migration goals and also that drug trafficking is stopped. And obviously this is also a pressure for the review of the TME, because because entering with tariffs of this size, because the truth is that it increases the probability that Mexico and Canada can feel defeated, but this must be avoided at all costs,” said the director of the Base Financial Group, Gabriela Siller.
In a comment after the announcement of the Republican, Siller added that the revision of the treaty involves only the observation of issues that have arisen since the TMEC entered into force, in 2020, and not to begin to renegotiate a commercial agreement that implies a 0%tariff.
“I still think that all this is a narrative that yes, Trump will continue with a commercial war against China and probably also against the European Union, but that Mexico can gain market share and so that Mexico is not charging the tariffs to the letter.”
He explained that according to US trade data, 83% of the imports of the United States from Mexico does not pay tariff, but on the other hand only 47% of Mexican goods meet the TMEC, and in theory this last percentage would be the only thing that would be exempt from rates.
“This can be a taco form (Trump Always Chickens out or Trump is always cowed) without explicitly saying Trump,” he said.
Siller explained that the US has two types of tariffs on Mexico, those of the International Emergency Emergency Powers Law, also known as Fentanil and Migration, which are 25% and that will rise to 30% from August 1.
And the 50% sectorals to steel and aluminum and 25% to cars and some auto parts.
Trump has sent similar letters to the other 23 commercial partners of the United States this week, including Canada, Japan and Brazil, establishing general tariff rates ranging from 20% to 50%, as well as a 50% tariff on copper.
The term of August first gives the countries to which Trump’s letters are directed to negotiate a commercial agreement that could reduce the tariff levels with which he has threatened.
Trump’s tariff orders waterfall since he returned to the White House has begun to generate tens of billions of dollars a month in new income for the US government.
American tariff revenues shot over 10,000 million dollars in the federal fiscal year until June, according to the United States Treasury on Friday.
With information from Francisco Rivera and Reuters
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