Mexico Eyes Stronger Canada Trade, Investment Ties
(MENAFN) Mexico aims to broaden its trade and investment relationship with Canada, moving past the framework established by the United States-Mexico-Canada Agreement (USMCA), President Claudia Sheinbaum announced Wednesday.
Speaking at her routine press briefing, Sheinbaum described her recent discussions in Mexico City with Canadian Foreign Affairs Minister Anita Anand and Finance Minister Francois-Philippe Champagne as "very good." She emphasized Mexico’s desire to attract sustained investment from Canadian companies alongside the existing trade pact.
Canada has committed to boosting its investments in Mexico, expanding direct bilateral trade, and advancing collaborative educational initiatives, Sheinbaum revealed. She also raised concerns about environmental issues linked to Canadian mining firms operating in Mexico, highlighting the need for stricter regulations discussed during Tuesday’s meeting.
"We also talked about mining companies and all the impacts Canadian mining companies have had in Mexico, and the need for them to comply with all the requirements imposed by an environmental impact statement," she stated.
The talks also helped lay the groundwork for an upcoming visit by Canadian Prime Minister Mark Carney to Mexico, although no specific date has been confirmed.
Both Mexico and Canada continue to feel the effects of global U.S. tariffs on automotive, aluminum, and steel exports despite the USMCA treaty, which is set for review next year.
Additionally, U.S. President Donald Trump raised tariffs on Canadian imports from 25% to 35% starting August 1, while granting Mexico a 90-day reprieve on current tariffs to facilitate ongoing trade negotiations.
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