LatinNews Daily - 21 May 2025

*Mexico’s Economy Minister Marcelo Ebrard has stated that vehicles assembled in Mexico and exported to the US will face an average tariff rate of 15% rather than the typical 25% due to benefits obtained via the US-Mexico-Canada Agreement (USMCA). Speaking at an event hosted by the US think tank Americas Society/Council of the Americas (AS/COA), Ebrard stated that the US had issued new regulations that were “very positive” and established preferential treatment for the automotive industry in Mexico, as well as Canada, as opposed to those from other countries. Ebrard said this was one of the most important objectives of recent talks with the US. According to Ebrard, the decree stipulates that tariffs on vehicles from Mexico and Canada will be reduced by on average 40%-50% in comparison to those from other countries, using an estimation of the percentage of US components in vehicles. “The strategy that our president has pursued of negotiation is yielding significant results,” he said.

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