Wednesday, April 2, 2025

Business group forecasts 50% increase in exports with new trade accord

A leading business organization issued a strong vote of approval today for the new NAFTA, forecasting that Mexico’s exports to the United States and Canada would grow 50% in the next 10 years.

The Business Coordinating Council (CCE), an umbrella organization of several business groups, said the new United States Mexico Canada Accord, or USMCA, is more robust, more modern and more agile, which will allow trade to multiply between the three countries.

The agreement was finalized last night and will replace the North American Free Trade Agreement.

CCE president Juan Pablo Castañón said in a telephone conference call the growth in exports will fuel employment and diversification in the production of Mexican products.

He cited three sectors that would lead the growth: food products, automotive and aerospace.

“. . . with the foundation of those three sectors of the economy, along with investment in energy, we are certain that we can grow our trade with the U.S. and Canada by at least 50%.”

One sticking point that was not resolved with the new trade accord were the tariffs imposed by the U.S. on steel and aluminum imports from Mexico and Canada, which U.S. President Donald Trump said today would remain in place for the time being.

But Castañón said the tariffs would be the subject of discussions this week. “This is now on the table . . . and conversations will begin this week to lift the imposition of these taxes on steel and aluminum, and on food products on Mexico’s part; we hope to have an announcement to make on the issue this week.”

Although many details of the USMCA have yet to be subject to outside analysis, it has been broadly welcomed for the fact that it ends more than a year of uncertainty for business and investors.

Source: Milenio (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Los Alegres de Barranco band poses with instruments and cowboy hats

US revokes visas of Mexican band who paid homage to cartel boss ‘El Mencho’

5
The band Los Alegres del Barranco is at the center of a heated controversy after paying tribute to notorious drug lord Nemesio "El Mencho" Oseguera Cervantes during a recent concert.
Kristi Noem and President Trump

Homeland Security Secretary outlines Trump’s ‘wishlist’ for Mexico to sidestep tariffs

19
The list of requests was presented to President Sheinbaum by Homeland Security Secretary Kristi Noem, who suggested Mexico may still be able to avoid tariffs before Wednesday.
A stack of tortillas with a hand at the top, pulling a couple of tortillas off the stack.

UNAM designs a ‘supertortilla’ to fight malnutrition in Mexico

7
According to federal data, over 18% of Mexicans lack access to quality nutritional food, while obesity and diabetes are prevalent in Mexico.