The government says that the T-MEC protects us… for now
Marcelo Ebrard came out to calm the waters. Donald Trump’s new move to reinstate protectionist tariffs, according to the Secretary of the Economy, is not going to hurt us that much. Washington had already warned us about these trade investigations that could end in new levies.
“The majority of trade between Mexico and the United States would not be affected due to the provisions of the T-MEC,” assured Ebrard.
Their argument is numerical and cold: close to 85% of what we export enters without tariffs thanks to the treaty. The effective rate we pay is around 4.4%, a pittance compared to the 30% that China bears. Trump’s move, Ebrard insists, is aimed more at Beijing and Brussels than at us.
The legal trick behind the new threat
This comes because the US Supreme Court stopped Trump from using an emergency law to impose tariffs left and right. Now the White House is looking for another loophole: Section 301 of its Trade Law. Basically, a tool to punish what they decide are ‘unfair practices’. Sounds familiar, doesn’t it?
Meanwhile, the strategy here is twofold: cling to the USMCA (whose review begins in Washington on March 16) and look for more allies in the region. For May there is a business mission to Canada to promote investments in auto parts, critical minerals and energy.
The official position is one of calculated calm. But deep down, we all know how this works: when an elephant moves, even if it says it’s not towards you, it’s best not to be under it.
