Mexico has the opportunity to increase exports to the US

Carriers wait for their turn to cross into the United States at a checkpoint located in the city of Tijuana, BC

The commercial problems of the last months between the United States and Mexico are not an obstacle for Mexican companies to increase the participation of their products in the market of the largest economy in the world, said Valentin Díez Morodo, president of the Mexican Business Council of Foreign Trade (Comce).

The commercial tension between the United States and China, the two largest economies in the world, opened “a window of opportunity” for Mexican products that should be taken advantage of, said Díez Morodo, in the Mexico business summit forum.

In June of this year, Mexico became the main trading partner of the United States, a position from which it displaced China.

The total value of trade in US goods with China (the sum of imports and exports) reached between January and June of this year 271 thousand 40 million dollars, according to the US Department of Commerce.

Meanwhile, the total value of trade between the United States and Mexico was 308 thousand 886 million dollars, also in the first half of the year, according to the same source.

“Despite the problems registered in the bilateral relationship with the United States in these last two years in commercial matters, we are facing the enormous opportunity to increase our exports,” added Díez Morodo, in a panel with which he started the second of three days of forum work.

The government of the United States threatened to impose progressively, until reaching 25 percent, tariffs on Mexican products, under the indication that the government of President Andrés Manuel López Obrador did not do enough to stop migration from Central America. The threat has not become effective.

Díez Morodo explained that the trade war between the United States and China also opens an opportunity for Mexican products to increase their participation in the US market.

Source: jornada.com.mx

The Mazatlan Post

www.novamarinsurance.com.mx

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