• INCREASE: The volume of Mexico’s foreign trade is expected to increase somewhere between 4% and 7% in 2020 as a result of the implementation of the new US, Mexico and Canada trade agreement (USMCA), according to estimates by CCE, Mexico’s top business lobby.
• POTENTIAL: Mexico’s trade volume has the potential to increase by 100% in 7 or 8 years, but it would need investment-friendly policies and promotion. Mexico is one of the world’s top exporters -number 12 per the World Trade Organization- totaling USD 450.6 billion in 2018.
• ORDERS: “Suppliers and customers could increase their orders as soon as this year, once uncertainty has passed over the renegotiation (of the agreement)… we will see new investments after”, said Moisés Kalach, head of CCE’s international negotiating arm.
• AUTOS: Mexico’s private sector said that USMCA’s new rules of origin for cars, pose the largest challenge and would require relevant work with the Ministry of Economy to adapt several domestic laws. The US and Mexico are waiting for Canada’s ratification of the agreement.
