Mexico's Commitment to Regional Trade Agreement

MEXICO CITY (Reuters) – Mexico is doing everything it can to protect a regional trade agreement with the U.S. and Canada, according to the Latin American nation's deputy economy minister, Luis Rosendo Gutierrez, in an interview published on Friday.

Focus on Security and Migration

Mexico is addressing security and migration issues to negotiate effectively. Gutierrez mentioned that officials have maintained contact with individuals close to incoming U.S. President Donald Trump, though they haven’t met with transition officials yet. The sole exception is Jamieson Greer, Trump's chosen trade representative, with whom Gutierrez conferred prior to his nomination.

Diplomatic Efforts in Washington

Gutierrez traveled to Washington to engage with U.S. business and farm groups, as well as lawmakers. He indicated that Mexico aims to establish an investment screening process similar to the U.S. Committee on Foreign Investment.

Impact on Chinese Investments

When asked about the implications for Chinese automaker BYD’s plans to build a factory in Mexico, Gutierrez stated that Mexico plans to operate under the same rules as its trade allies. BYD has emphasized that its facility will cater to the local market rather than the U.S.

Manufacturing Incentives

Gutierrez elaborated that Mexico is prepared to offer incentives for manufacturing, especially in the battery sector, asserting, "We can be a very efficient complement for the American economy," especially in light of U.S. initiatives like the Inflation Reduction Act and the CHIPS Act.