The (EU) and Mexico “seal” the review of the free agreement, under pressure from US President Donald Trump, for a new round of duties, according to Bloomberg. The Agreement aims to strengthen trade between the EU and Mexico and economic security through the elimination of risks to supply chains, ensuring a sustainable supply of critical raw materials and tackling climate change, according to today’s communication (17.01.2025) from the European Commission. The bilateral trade in goods reached 81.7 billion euros (84 billion dollars) in 2023, while the service trade was 22 billion euros in 2022. CORVERSE Trump is to overthrow international relations after his inauguration on January 20, having threatened to start trade wars. She has repeatedly reprimanded the EU for its commercial practices and said it would impose customs duties on its exports. He has also said that he will impose 25% duties on products from Mexico. The Agreement, which should be ratified by both sides, aims to extend EU exports to sectors such as financial services and telecommunications, strengthen the supply chain of critical raw materials and access to state contracts on equal terms with domestic enterprises. It will also reduce tariffs on agri-food products such as cheese, poultry, pork, pasta, apples and jams, as well as chocolate and wine.
EU and Mexico “seal” agreement to face Trump threats to tariffs
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