One of the priority issues before the president’s administration ends Andrés Manuel López Obrador is to evaluate the strategy that will be proposed in the review of the Treaty between Mexico, the United States and Canada (T-MEC) scheduled for 2026, assured the Secretary of Economy, Raquel Buenrostroso he said that they are already forming internal working groups and with the private sectorto review the aspects that need to be refined.
“In times, I would put two (themes), which is the revision that is coming for 2026 T-MEC and sectoral programs,” he said during an event organized by Americas Society / Council of Americas (AS/COA).
During an event organized by Americas Society / Council of Americas (AS/COA)Buenrostro highlighted the importance of preparing for said review, regardless of who wins the elections. upcoming presidential elections in the United States and Mexico. It emphasized the close interdependence and strong integrated value chains between three North American countries.
“Without a doubt, the relationship and connection that exists in North America and, above all, with USA It has been going on for many years and we are already very interdependent. The global companies they work, we have Value chains that are integrated with North Americawhere the processes are shared,” said the official.
Buenrostro acknowledged that, given the changes in the world, there will surely be “irritants” or particular concerns of each country that must be addressed in the review of the T-MEC. However, he stressed the need to find solutions and adjustments that allow maintaining the FTA and continue working as before.
“What we have to do and we have to work is to think about how we can save it and what review strategy and what things we can refine in order to maintain our FTA and continue working as always,” he said.
The Secretary of Economy reported that they already have an internal work program in the agency, but they will also make public in the coming days a accompaniment program with the private sectorsince they consider it essential to work together with businessmen in this review process T-MEC.
They warn of a problem with China
According to statements of Ildefonso Guajardo Villarrealrepresentative for economic affairs of the presidential candidate Xóchitl Gálvez Ruizthe trade relationship with China It will be the central topic during the T-MEC review scheduled for 2026.
At the same AS/COA event, the former Secretary of Economy noted that “China is a fundamental business partner for the value chain integration“, but warned that “we are basically competition with China.”
He added that there should be no doubt about where the strategic alliances of Mexicoand where their commitments, democracy and respect for human rights.
”The real underlying problem for the review of 26 is neither rules of origin nor transgenics, the problem for 2026 is called China“, stated who led part of the USMCA negotiationsand said that there are clear signs that this administration has not made the relationship with that country very transparent.
Guajardo Villarreal called on private sector so that there is dialogue in the three nations to arrive with a document that brings proposals that improve the conditions of the trade within the T-MEC.
Regional impact
For his part, Joshua P. Meltzer, senior fellow in the Global Economy and Development program at the Brookings Institution, warned that the failure in renew the T-MEC in 2026 would inject uncertainty into the future of the Treaty, negatively affect the trade and the investment throughout North Americaand would signal a lack of commitment to the agreement.
”By increasing the possibility that the T-MEC can finish, investors would face greater associated risks and costs with the cross-border trade and with making longer-term investments that will be necessary in areas such as electric vehicles (EV)batteries and semiconductors”, he indicated.
