Mexico and the United States agreed today, Wednesday, October 29, in South Korea, to advance in “next steps” of its intense negotiations to achieve a trade agreement, the Government reported.
President Claudia Sheinbaum ruled out on Monday that Washington was going to apply any special tariffs on her country’s exports on November 1, citing dialogues with her counterpart Donald Trump.
On Saturday, the 90-day period initially agreed between both countries to reach an agreement that would avoid the 30 percent taxes expired.
Today, Wednesday, the Mexican Secretary of Economy, Marcelo Ebrardmet with the US trade representative, Jamieson Greer, within the framework of the Asia-Pacific Economic Cooperation forum summit (APEC) in the South Korean city of Gyeongju.
“Both officials reviewed progress in trade negotiations between Mexico and USA and agreed on the next steps to follow,” Ebrard’s office said in a statement, without giving further details.
According to the text, the objective is “reach an agreement before the review of the T-MEC“, the free trade agreement shared by Mexico, the United States, and Canada, scheduled for 2026.
The Undersecretary of Foreign Trade, Luis Rosendo Gutiérrez Romano, had told the press last week that both countries will close several key pacts in APEC on security, fentanyl, migrants and trade.
But it will be President Claudia Sheinbaum who will announce them in the following days, he said.
Mexico is one of the most vulnerable countries to duty of Trump, since more than 80% of its exports are destined for the United States under its trade agreement.
In the midst of the intense diplomatic effort, Marcelo Ebrard also met in South Korea with the US Secretary of Commerce, Howard Lutnick, said the Government of Mexico.
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