Mexico’s Secretary of Economy, Marcelo Ebrard, said a shift in the political balance of the United States after the 3 November elections will not necessarily bring a quick change to US tariff policy.
Revenue as the obstacle
Asked whether the election results could open the door to lower tariffs on steel, aluminum and automobiles, Ebrard said it was too early to anticipate the political and commercial effects of the vote. “Los aranceles ya generan ingresos, por cierto, muy importantes. Entonces, suponer que va a cambiar eso rápidamente porque haya UN cambio en el equilibrio político, pues probablemente no es lo que cabe esperar,” he said.
The remark points to a structural reason for caution.
Talks may run past the vote
Ebrard also said negotiations aimed at reducing tariffs on steel, aluminum and automobiles could stretch beyond election day itself. He offered no firm timeline.
Pressed on when a resolution might come, he said: “Es probable que sea después, probable, no sé.” The comment leaves open whether any easing would follow swiftly after the vote or take considerably longer, and Ebrard did not commit to a specific outcome for any of the three sectors under discussion.
Source: Mexico's Secretary of Economy
