Mexico City, (EFE) .- The eventual increase in tariffs to Mexico from 25% to 30% “will not have a great impact on trade”, as long as exemptions for TMEC products and the US car content are maintained, said a report from the Global Oxford Economics firm.
He recalled that on Thursday, President Trump granted Mexico 90 days to continue commercial and security negotiations, and after the announcement of the extension, President Claudia Sheinbaum declared her intention to reach a permanent agreement within that period.
“We do not believe that the eventual increase in tariffs (a rise threat of 5 percentage points to 30%) has a great impact on trade, as long as exemptions for the products of the Mexico, the United States and Canada (TMEC) and the US automobile content are maintained,” said the overall firm of economic analysis and economic forecast based in the United Kingdom.
He added that the nominal exports of non -automobile manufactured products from Mexico to the US “continue to increase and also do their percentage over the total American imports.”
In addition, he stressed that “the commercial data of the EU census indicate that almost 80% of imports from Mexico are still free of tariffs.”
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Oxford Economics recalled that Sheinbaum presented on Thursday to media that the tariff pause occurred “after the efforts of her government for signing a new cooperation agreement on the United States in the next few days,” and Trump has indicated that Mexico has agreed to reduce non -tariff barriers.
“Regardless of the agreement, we hope that Mexico will achieve at least exemptions for non -automobile exports that meet the TMEC,” he said.
On Thursday, after Trump announced the extension for 90 days the imposition of tariffs after a telephone conversation, Sheinbaum described the negotiation as the “best possible agreement.”
The extension obtained by Mexico came just before the deadline faced by other countries, such as Canada, India or Brazil, to avoid major tariffs that will enter into force on August 1, many of which have not yet reached agreements and can face rates between 15 % and 50 %.
The agreement reached between Mexico and the United States is the same as both nations since April, when Trump had threatened to impose 25% tariffs on Mexican products, but agreed to suspend the encumbrances.
After the agreement, Sheinbaum said that one of the main achievements was that with the extension the TMEC was safeguarding, since the tariffs apply to products that are not within the treaty. “The Tmec is safeguard. That is very important,” he said.
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