Marcelo Ebrard, Mexico’s Secretary of Economy, said the Democratic victory in the US midterm elections will not change US tariff policy toward Mexico. Tariff powers rest largely with the president, he said. The new composition of Congress does not alter that.
USMCA review still open
Ebrard said the USMCA, known in Mexico as the T-MEC, could still change in the current review. He added that it is too early to say how. Mexico and the United States agreed to extend the agreement’s validity to 2036, with annual reviews.
The fourth round of review talks was postponed until after the US elections on 3 November. The 2026 review has not yet concluded.
Tariffs and their costs
Ebrard said imposing a tariff is costly for the country that applies it. “It is very expensive to put a tariff on something because you will hit one of their companies,” he said. The article also notes that tariffs have contributed to pushing up inflation in the United States.
Congress is expected to make limited legislative progress before year-end. A stopgap funding measure is likely to avoid a government shutdown. The debt ceiling issue is left for next year.
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