Mexicomain commercial partner of USA in 2023, could face a significant impact if the president-elect Donald Trump makes concrete his threat to impose duty of up to 25% on imports from Mexico. The measure, which would also affect Canada and China, threatens to alter the stability of trade in North America and harm strategic sectors of the Mexican economy.
Trade between Mexico and USA reached record numbers in 2023, consolidating Mexico as the main exporter to its northern neighbor, according to data from the Ministry of Economy (SE). Nearly 80% of Mexican exports are destined for the US market, which underlines the strong dependence of the Mexican economy on this commercial relationship.
Among the main products that Mexico exports to the United States are vehicleselectronic components, fruits and alcoholic beveragessectors that could suffer significant losses if the levies are implemented. In addition, experts point out that the measure would not only affect Mexico, but also the supply chains Americans, which depend on the integration of both markets.
According to the SEthe 10 main products that Mexico exports to USA added an estimated value of 200,000 million dollars in 2023. These goods represent 46% of all Mexican exports and cover sectors such as automotive industrythe electronics and the agriculture.
- Cars and trucks: Mexico is a leading exporter of finished vehiclesintended mainly for the US market.
- automotive parts: engines, transmissions and other components manufactured in Mexico supply the automobile manufacturers. USA.
- Televisions and electronic devices: Mexico is a key supplier of technology products, including televisions and smartphones.
- Computers and accessories: computer equipment and electronic components for manufacturing stand out in this area.
- Industrial machinery and equipment: Mexico exports essential goods for the construction and manufacturing industries in USA.
- Fresh fruits and vegetables: avocados, tomatoes and berries lead Mexican agricultural exports to USA.
- Beer and tequila: las alcoholic beverageslike tequila and beer, generate significant income for bilateral trade.
- Bakery and confectionery products: Cakes, cookies and similar products represent another important segment.
- Furniture: Manufactured in Mexico, the furniture generates more than 9,000 million dollars in exports.
- Appliances: From refrigerators to washing machines, these goods also form part of the list of key exports.
The sector automotivewhich leads Mexican exports, would be one of the most affected. According to the Mexican Association of the Automotive Industry (AMIA)los duty proposed would significantly increase the cost of vehicles manufactured in Mexico, which would affect both American manufacturers and consumers in both countries.
Companies like Ford, General Motors y Stellarwhich depend on Mexican plants to produce automobiles at competitive prices, would face an increase in their operating costs, which could translate into a reduction in their competitiveness in the global market.
The Mexican agricultural sector is also among the most vulnerable. According to figures from United States Department of AgricultureMexico is the main supplier of fresh fruits and vegetables in the country, with exports valued at $12 billion in 2023. Products such as avocados and tomatoes are essential for the US market, especially in border states.
If the dutythe costs of these products could increase, affecting both Mexican producers and US consumers, who depend on these imports to satisfy local demand.
The export of alcoholic beveragesespecially tequila y beergenerated revenue of $3.5 billion in 2023, according to the National Association of Beverage Exporters of Mexico. This sector is especially important due to the growing consumption of these products in USA.
In a recent press conference, Mexico’s Secretary of Economy, Marcelo Ebrardstressed that the imposition of duty would directly affect US companies operating in Mexico. “What is being proposed is to tax the North American companies that produce in Mexico,” said Ebrard, pointing out that the measure could have adverse consequences for both countries.
For her part, the president Claudia Sheinbaum He emphasized that Mexico is open to dialogue to avoid a trade war that harms the stability of the T-MEC. In a call with Trump, Sheinbaum highlighted the Mexican government’s efforts to address irregular migration and combat trafficking. fentanylissues linked by the president-elect with the possible duty.
