The success or failure of Mexico against the policies of President Trump will depend on 90% on the work of the Mexican government, and not on the administration of the Republican, according to the general director of the street, Madrazo, Mancera (CMM), Luis de la Calle.
He recalled that the North American Free Trade Agreement transformed the Mexican economy: “The moment of Mexico today is stronger than 30 years ago,” said one of the negotiators of the agreement in the 88 Banking Convention.
“When this period ends, Mexico will end with a preference superior to the one before the arrival of Donald Trump to the presidency of the United States, with respect to the rest of the world,” he said.
“When you see yourself in a mirror, the important thing is to discover the comparative advantages, 30 years ago Mexico did that exercise, even banks and the private sector participated and transformed Mexican companies,” he added.
Lee: In Trump’s circle, some expect high tariffs even after commercial agreements
“If we previously participated as an intensive country in labor, we now have to participate as an intensive country in knowledge, creativity and capital,” he said.
“Before Trump, a few weeks ago the preferences of the TMEC were worth 3%, because it was the average tariff that charged the rest of the world, and on April 2 the president of the United States went above 30%, which will not happen by agreements with the United Kingdom and in the medium term with China,” he said.
“We can have a minor preference with respect to the United States, but superior with respect to Asia, Europe and Latin America. In the end we will end up better,” he said.
He declared that compliance with the rule of origin “before paid a 3% tariff and now is between 6 and 9% or three more times, and that to comply with the rule of origin, integration of national value is required.”
Lee: Sheinbaum presumes that investments have not left Mexico despite Trump tariffs
“We have always had an industrial policy debate in Mexico, but Donald Trump is giving steroid industrial policy,” he said.
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