Mexican Economy Minister travels to the US for T-MEC negotiations after Washington's refusal of extension

Despite the American rejection of extending the pact for another 16 years, Mexican President Claudia Sheinbaum expressed optimism on Friday about the possibility of reaching a consensus. She considered that the conversations between the three North American countries, in the context of the first annual review of the trade treaty, are 'very advanced.'

Mexican Stance and Perspectives

Given the uncertainty generated by Washington's decision not to extend the T-MEC, President Sheinbaum emphasized that there is security for investments in Mexico, since the treaty remains valid until at least 2036. Regarding Mexico's trade posture, she classified it as 'absolutely false' that the country negotiated poorly with Washington, adding that Canada is in circumstances 'even more unfavorable' than those faced by Mexico at this time.

The T-MEC was implemented on July 1, 2020, replacing the old NAFTA. Although the US has currently dismissed the extension of the treaty beyond 2036, the agreement itself provides that the three partners can agree to a 16-year extension at any time, provided they can resolve the divergences driving the annual reviews.

Additionally, US President Donald Trump had previously expressed skepticism about the renewal of the agreement, stating that the country 'needs nothing' from its North American partners.