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Mexico Welcomes US Decision to Remove Tariffs on Auto Parts Under USMCA

Mexico has welcomed the United States’ decision to remove tariffs on auto parts under the US-Mexico-Canada Agreement (USMCA). The decision is seen as a positive step for both countries, as it helps improve trade relations and supports the auto industry in North America.

The U.S. had previously imposed tariffs on some auto parts imported from Mexico, which led to concerns among Mexican manufacturers and businesses. These tariffs created extra costs for companies, affecting their ability to compete in the global market. However, with the removal of these tariffs, Mexico believes it will strengthen its position as a key player in the automotive sector.

Mexico’s Economy Minister, Tatiana Clouthier, expressed satisfaction with the U.S. decision. She said, “This decision is a clear sign of the strong partnership between Mexico and the United States. It will help create jobs, increase trade, and make North America more competitive in the global market.” Clouthier also mentioned that the decision would benefit workers in Mexico’s auto industry and provide a boost to economic growth.

The U.S. decision comes after months of negotiations between the two countries. Both sides discussed the terms of the USMCA, which replaced the North American Free Trade Agreement (NAFTA). The USMCA is designed to improve trade rules and provide better opportunities for businesses in all three countries: the U.S., Mexico, and Canada.

The removal of tariffs on auto parts is expected to lead to lower production costs for companies in Mexico, which will help them produce cars and parts more competitively. It will also open the door for more trade between the U.S. and Mexico, benefiting companies on both sides of the border.

The U.S. government has said that it will continue to monitor the trade agreement to ensure both countries follow the terms and conditions. For Mexico, this development is an important step in strengthening its economy and improving its trade relations with its northern neighbor.