Mexico pledges to resolve U.S. tariff threats, highlighting trade resilience, crackdown on contraband, and efforts to expand partnerships, including UAE investments in semiconductors and renewable energy.
Mexico is going to find a solution to avoid the imposing of tariffs by the United States, Economy Minister Marcelo Ebrard said on Friday, following threats from U.S. President-elect Donald Trump to do so.
Trump has promised sweeping tariffs on Mexico if it does not crack down on migrant arrivals at the shared border and the entry of drugs, particularly fentanyl, into the U.S.
Ebrard, speaking at a conference in Mexico City, compared the current trade tensions with previous negotiations during Trump's first term, when Ebrard was Mexico's foreign minister.
Then, Trump made big tariff threats around migration that did not come to pass.
"In the end, there were no tariffs or treaties, because we found a way out," Ebrard said, adding that this time, "I guarantee you we're going to find (a way out)."
Ebrard reiterated that Trump's tariff threats seemed unrealistic because of the heavy impact they would have on the U.S. economy.
"You can't have low inflation and sustained economic growth in the U.S. if, at the same time, you're rolling out strong protectionist policies against Mexico and China," he said. "That's a key advantage for Mexico."
Trump has also accused Mexico of being a backdoor for Chinese goods to reach the U.S., something Mexico denies.
Mexico has, however, launched a crackdown on contraband products imported from Asia called "Operation Clean-Up." It also imposed tariffs on textile imports, which Ebrard said were in response to the flooding of the local market with cheap goods.
Mexico is also looking to broaden its trade relationship with other countries beyond the U.S., Ebrard said, adding that the United Arab Emirates' sovereign wealth fund was studying investments in Mexico's semiconductor and renewable energy sectors.
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North Korea launched multiple short-range missiles on Tuesday, which landed outside Japan's waters, with no reports of damage or casualties, according to Japan's government.
A devastating mudslide at a jade mine in Myanmar has engulfed homes, with dozens feared dead and rescue teams continuing to search through the debris.
Southern California is battling devastating wildfires that have claimed 24 lives, destroyed thousands of homes, and triggered mass evacuations. Amid the chaos, a surge in looting and criminal activity is straining communities and law enforcement efforts.
Over 100 Paris 2024 Olympic medals were returned due to quality issues linked to EU regulations and an untested varnish formula. The IOC has pledged to replace all defective medals.
A 6.9 magnitude earthquake struck Kyushu, southern Japan, prompting tsunami advisories for Miyazaki and Kochi prefectures. A 20-centimetre tsunami reached Miyazaki city, but no issues were reported at nearby nuclear power plants. Links to the Nankai Trough are under investigation.
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North Korea launched multiple short-range missiles on Tuesday, which landed outside Japan's waters, with no reports of damage or casualties, according to Japan's government.
A devastating mudslide at a jade mine in Myanmar has engulfed homes, with dozens feared dead and rescue teams continuing to search through the debris.
Southern California is battling devastating wildfires that have claimed 24 lives, destroyed thousands of homes, and triggered mass evacuations. Amid the chaos, a surge in looting and criminal activity is straining communities and law enforcement efforts.
Over 100 Paris 2024 Olympic medals were returned due to quality issues linked to EU regulations and an untested varnish formula. The IOC has pledged to replace all defective medals.
A 6.9 magnitude earthquake struck Kyushu, southern Japan, prompting tsunami advisories for Miyazaki and Kochi prefectures. A 20-centimetre tsunami reached Miyazaki city, but no issues were reported at nearby nuclear power plants. Links to the Nankai Trough are under investigation.
North Korea launched multiple short-range missiles on Tuesday, which landed outside Japan's waters, with no reports of damage or casualties, according to Japan's government.
A devastating mudslide at a jade mine in Myanmar has engulfed homes, with dozens feared dead and rescue teams continuing to search through the debris.
Southern California is battling devastating wildfires that have claimed 24 lives, destroyed thousands of homes, and triggered mass evacuations. Amid the chaos, a surge in looting and criminal activity is straining communities and law enforcement efforts.
Over 100 Paris 2024 Olympic medals were returned due to quality issues linked to EU regulations and an untested varnish formula. The IOC has pledged to replace all defective medals.
A 6.9 magnitude earthquake struck Kyushu, southern Japan, prompting tsunami advisories for Miyazaki and Kochi prefectures. A 20-centimetre tsunami reached Miyazaki city, but no issues were reported at nearby nuclear power plants. Links to the Nankai Trough are under investigation.
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