Mexico’s proposal for a prosperous, competitive, and secure region
Minister of the Economy Marcelo Ebrard explained that, in the event of a 25% tariff, this would impact the main U.S. companies in Mexico, mainly the automotive industry. Auto parts exported from Mexico to the United States would see their cost increase by 25%. In addition, taxes on company profits would double, around 400,000 jobs would be lost, and U.S. economic growth would decline.
Ebrard emphasized that Mexico is proposing a prosperous and competitive region, with the vision of making North America the safest, most productive and competitive bloc in the world. The region currently generates 30% of the world’s GDP.
Mexico’s proposal for a prosperous and competitive region focuses on regional stability, promoting strategic cooperation in security, migration, and governance to ensure a reliable and secure region. It also seeks shared prosperity through the creation of well-paying jobs and global competitiveness.
Nearshoring: a boost to Mexico’s growth and competitiveness
Altagracia Gómez, coordinator of the Advisory Council on Regional Economic Development and Nearshoring, explained that nearshoring represents a great opportunity for Mexico to break with the cycle of low growth, but also with the reproduction of inequalities.
She pointed out that only 17% of investment in the country is foreign, while 83% corresponds to Mexican businesspeople.
The main tasks of the Advisory Council on Regional Economic Development and Nearshoring were presented, among which are the strengthening of industrial corridors and well-being poles through mixed investment and infrastructure projects, promoting the development of local MSMEs with training, credit, and direct marketing channels, and making sustainability practices visible. It also seeks to increase investments, exports, and patent registrations, replicate dual technical education programs, and streamline investments by reducing paperwork procedures through digitalization. In addition, it promotes access to development bank programs for MSMEs and exporters, analyzes strategic tariffs to favor local production, and acts as a liaison between the government and economic sectors.
Three key projects were mentioned: leading the first 100% Latin American space mission, integrating a complete electric motor manufactured in Mexico, and developing a 100% Mexican satellite.
President Claudia Sheinbaum emphasized that the collaboration of businesspeople in the Council is a sign of unity and confidence that Mexico will move forward. She also highlighted that Plan Mexico seeks to strengthen domestic production, including the substitution of imports from Asian countries, especially China, to be manufactured in Mexico.
Businesspeople return water concessions to guarantee the human right to water
Claudia Sheinbaum explained that, thanks to the agreement on the human right to water, various businesspeople will return their concessions as a national asset so that the water can be used for human consumption.
Mexico’s approach to migration: Attention to the causes with comprehensive support.
The President stressed that migration is not a problem, but a phenomenon, and that Mexico’s strategy focuses on addressing its root causes. For this reason, it supports Honduras, El Salvador, and Guatemala with comprehensive social programs.