Mexico praises ‘preferential’ US tariffs treatment | CNN

Mexico's Preferential Tariffs Treatment

Mexico's economic minister, Marcelo Ebrard, praised the preferential treatment Mexico received after the US announced new global tariffs. While many countries faced a minimum 10% tariff, Mexico and Canada were largely exempt from the new reciprocal tariffs, although pre-existing tariffs remain in effect.

Reasons for Preferential Treatment

Mexican President Claudia Sheinbaum attributed this exemption to the strong relationship between Mexico and the US. She highlighted the collaborative yet respectful nature of this relationship as a key factor in securing preferential treatment.

Existing Tariffs and Ongoing Discussions

Mexico remains subject to a separate 25% tariff on cars imported to the US. The exemption from the new tariffs is contingent on progress in addressing issues related to fentanyl and illegal immigration. Mexico continues its dialogue with the US about the implications of US tariffs on the automobile industry.

• Mexico praised the preferential tariff treatment.
• Positive US-Mexico relations cited as the reason.
• A 25% tariff on cars remains in effect.
• Ongoing dialogue about the impact on the auto industry.
• Exemption contingent on fentanyl and immigration issues.