Taking advantage of its proximity to the United States and putting on the table the elimination of trade barriers with its northern neighbor and Canada in a total integration with North America is what Mexico should bet on in the review of the trade agreement with those countries , which will take place in 2026, so that various sectors, such as the chemical and energy sectors, can explode, specialists agreed.
In the session Challenges and opportunities of the new government and the potential of the chemical industry , at the LVI National Forum of the Chemical Industry , organized by the National Association of the Chemical Industry (ANIQ) , Kenneth Smith Ramos , partner of Agon Consultores , said that Mexico must be prepared because its northern neighbor would review the automotive industry and establish trade measures against China.
In light of this, he said that Mexico must strengthen its competitiveness in the region, especially if Donald Trump wins the US elections and continues with the same tone and theme as when he was president.
The chemical industry has many opportunities and could benefit from the upcoming review of the United States-Mexico-Canada Agreement (USMCA) , with the opening of several sectors, said Smith, who added that Mexico’s future is with its northern neighbor.
Carlos Pascual , senior vice president at Energy S&P Global , said that this should be the time for Mexico due to the level of tension between the United States and China .
“The relocation of labor in Mexico ( nearshoring ) is a vision, but not a reality, and we have to see what the capacity is to receive capital; we have to review judicial reform and the possible elimination of regulatory bodies,” he said.
Pascual said that the number one issue for Trump, if he wins the US presidency, is migration , which he would use as a transactional issue in the review of T-MEC, while Kamala Harris would bet on integration with Mexico to compete against China.
José Carlos Pons , Chief Financial Officer (CFO) at Alpek , stated that the chemical industry is a contrast that depends heavily on imports and foreign markets, however, he said that there are opportunities in being close to the largest market in the world.
He outlined five priority issues to assist the federal government, which are: working as an industry with Petróleos Mexicanos (Pemex) , collaborating in the transition to electric energy; having the government protect them from unfair competition, infrastructure and logistics, and streamlining international trade.
Meanwhile, Regulo Salinas , president of the Energy Commission of the Business Coordinating Council (CCE) , highlighted the openness to dialogue that is emerging from the new federal government , headed by Claudia Sheinbaum , with the private sector, something that, he said, did not happen with the previous administration.
He also agreed that Mexico will benefit more from being closer to North America’s trade policies than to China’s.
As of the second quarter of 2024, the United States remains Mexico’s main investment partner , with 44% of total flows, amounting to 13,717 million dollars , according to information from the Ministry of Economy . These figures show the commercial importance between the two countries, and highlight what was expressed by the panelists in the sense of maintaining relations with the northern neighbor in economic terms.
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