Sheinbaum says trade talks with Trump ‘advancing’ after call

Mexican President Claudia Sheinbaum expressed optimism regarding trade negotiations with the United States on Friday, following a recent telephone conversation with President Donald Trump. The left-leaning Sheinbaum detailed that she had spoken with Trump 22 times since her inauguration two years prior. Their latest exchange, described by Sheinbaum as "very good," occurred this week and precedes upcoming discussions regarding the future of a longstanding US-Mexico-Canada free trade agreement, a deal Trump perceives as insufficiently advantageous to the United States.

While most Mexican products have remained relatively unscathed by his tariff measures, President Trump has imposed a 50% levy on aluminum and steel originating from Mexico, alongside targeting the nation's auto industry, despite their existing trade pact. Sheinbaum conveyed her hope for an agreement, specifically aiming for a reduction in the tariffs currently imposed on Mexican exports.

She emphasized the importance of preserving Mexico's preferential trade access to the US, which accounts for roughly 80% of Mexico's total exports, amidst escalating tensions in a prolonged trade war between Washington and Canada.

Foreign investors are keeping a close eye on this situation, as Mexico often serves as a duty-free conduit into the US market. President Trump has threatened to escalate tariffs on Mexico, accusing the country of insufficient efforts to curb the influx of migrants and drugs across the border. He has also made offers to deploy US troops to combat the cartels. Sheinbaum firmly rejected the notion of US military intervention, stressing that Mexico's sovereignty remains untouched in this discourse.