Trump’s presidency will not change trade rules between the U.S. and Mexico: ABM

MEXICO - The fact that Donald Trump is the 47th president of the United States will not change the rules of trade between Mexico and the US, said Julio Carranza, president of the Mexican Banking Association (ABM).

“It is very different what is said in the campaign and what is actually done,” Carranza told the media after the inauguration of the association's third Financial Education Congress.

“We are trade allies and we seek the benefit for both countries,” he added.

Carranza commented that the relationship between the two countries will continue and will even be strengthened, despite Trump's comments of imposing 25% tariffs on all imports of Mexican origin, in case the Mexican federal government -under Claudia Sheinbaum- does not meet the US president's expectations on immigration.

“Trump's statements are strong and generate concern, but in the end we have had a relationship that benefits everyone for more than 30 years. We should not fail to see that benefit that has not only been for Mexico but for them as well,” commented the president of the ABM.

In this regard, the executive pointed out that US businessmen's investments in Mexico are not in danger and that, as previously mentioned in an event that gathered Mexican diplomats with businessmen from the US and other countries -CEO Dialogue-, there are more than US$20 billion ready to be invested in Mexico.

In addition, he said that Mexico is part of the trade agreement between the three North American countries (USMCA) “it is convenient for all of them”. He added that in the future, reactions between the US and China will continue, which he described as an opportunity for Mexico's growth.