Mexico, EU Lower Tariffs in Bid to Grow Non-US Trade
The accord expands coverage to services, digital trade and investment, while giving duty-free access to most goods and new openings for agribusiness and autos.
- On Friday, Mexico and the European Union signed the long-awaited Modernized Global Agreement in Mexico City, updating the 2000 trade accord to include services, digital trade, and investment provisions.
- Both sides signed the pact seeking to expand trade relations and diversify exports away from the United States, partially insulating their economies from potential U.S. tariffs.
- The agreement eliminates tariffs on 99% of products traded between the parties and reduces Mexican tariffs on European agricultural goods by 95%; the EU is investing €5 billion in President Sheinbaum's Plan México.
- European Commission President Ursula von der Leyen and European Council President António Costa were hosted by President Sheinbaum at the National Palace, though the pact requires ratification by the European Parliament and the Mexican Senate.
- The agreement establishes a novel Investment Dispute Resolution Tribunal replacing previous bilateral frameworks, while Economy Minister Marcelo Ebrard noted the tariff reduction creates opportunities for Mexico to grow much faster with European investments.
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36 Articles
Trump threatens with tariffs – the EU is looking for more reliable trading partners: with Mexico, Europeans are now concluding an agreement that will seal the elimination of trade barriers.
Parma ham, Bavarian beer, and Tyrolean bacon: The modernized trade agreement protects European specialties and reduces tariffs. But it's not just about trade. Source link: https://www.faz.net/aktuell/politik/ausland/europaeische-union-und-mexiko-neues-handelsabkommen-acccg-200861578.html Author: Publish date: 2026-05-23 02:50:00 Copyright for syndicated content belongs to the linked source.
The European Union and Mexico have signed an extended version of their existing trade agreement. Mexican President Sheinbaum met with EU Commission President from Leyen and President of the Council Costa for the first EU-Mexico summit in more than ten years.
Parma ham, Bavarian beer and Tyrolean bacon: The modernised trade agreement protects European specialities and reduces tariffs. But it's not just about trade.
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