Mexico, EU Lower Tariffs in Bid to Grow Non-US Trade
The accord expands coverage to services, digital trade and investment, while giving duty-free access to most goods and new openings for agribusiness and autos.
- On Friday, Mexico and the European Union signed the long-awaited Modernized Global Agreement in Mexico City, updating the 2000 trade accord to include services, digital trade, and investment provisions.
- Both sides signed the pact seeking to expand trade relations and diversify exports away from the United States, partially insulating their economies from potential U.S. tariffs.
- The agreement eliminates tariffs on 99% of products traded between the parties and reduces Mexican tariffs on European agricultural goods by 95%; the EU is investing €5 billion in President Sheinbaum's Plan México.
- European Commission President Ursula von der Leyen and European Council President António Costa were hosted by President Sheinbaum at the National Palace, though the pact requires ratification by the European Parliament and the Mexican Senate.
- The agreement establishes a novel Investment Dispute Resolution Tribunal replacing previous bilateral frameworks, while Economy Minister Marcelo Ebrard noted the tariff reduction creates opportunities for Mexico to grow much faster with European investments.
48 Articles
48 Articles
The Delegation of the Government of the Generalitat in Mexico and Central America, in collaboration with the Secretariat of Economy of the Government of Mexico, have organized an economic forum to enhance the international projection of its most strategic sectors within the framework of the Mexico Modernized Global AgreementEU, signed this Friday by the President of Mexico, Claudia Sheinbaum, and of the European Commission, Ursula von der Leyen.…
The elimination of duties in a number of sectors will benefit exporters on both sides.The understanding will open new markets to producers in both regions while maintaining the highest standards of food health and safety and promoting environmentally friendly practices.
Trump threatens with tariffs – the EU is looking for more reliable trading partners: with Mexico, Europeans are now concluding an agreement that will seal the elimination of trade barriers.
Parma ham, Bavarian beer, and Tyrolean bacon: The modernized trade agreement protects European specialties and reduces tariffs. But it's not just about trade. Source link: https://www.faz.net/aktuell/politik/ausland/europaeische-union-und-mexiko-neues-handelsabkommen-acccg-200861578.html Author: Publish date: 2026-05-23 02:50:00 Copyright for syndicated content belongs to the linked source.
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