EU and Mexico sign new trade deal ahead of Trump's inauguration

Published Jan 17, 2025

Tridge summary

The European Union and Mexico have reached a new trade deal aimed at boosting European exports, particularly in financial services and e-commerce, and encouraging EU investment in Mexico. The deal will allow Mexico to remove high tariffs on EU products such as cheese and wine, and provide EU companies with access to Mexican government contracts. The agreement also includes provisions to safeguard geographical indications, a legal protection granted to products like Parma ham and Champagne. The two regions are updating a previous trade agreement from 2000, and the deal will need government approval on both sides. Mexico is the EU's second-largest trading partner in Latin America.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Union and Mexico secured a new trade deal on Friday ahead of the inauguration of US President-elect Donald Trump, who has threatened both regions with heavy tariffs on exports next week. The deal, which still needs to be approved by governments on both sides, would allow Mexico to eliminate the high tariffs it imposes on EU products such as cheese and wine. The agreement aims to boost European exports in key areas such as financial services and e-commerce, strengthen the supply chain for essential raw materials and encourage EU investment in Mexico. It will also give EU companies access to Mexican government contracts and vice versa. “The EU and Mexico are already trusted partners. Now we want to deepen our cooperation even further, greatly benefiting our people and economies,” European Commission President Ursula von der Leyen said on Friday. She added that exporters such as farmers and food companies would benefit from new business opportunities under the deal. ...

Source: Broadcast