Sunday, March 3, 2024

Slim believes that Mexico will improve US trade against China, in the last Trump presidency

Mexican businessman Carlos Slim, the richest man in Mexico, spoke on Monday about the possibilities that Mexico will have in commercial relations with the United States in dealing with China, in a conversation in which he referred to the final victory of Donald Trump in the 2024 presidential election.

When asked about the possible return of Donald Trump to the presidency of the United States, Slim responded by directing the issue at the commercial level and defending that the neighboring country knows that “in Mexico we are good in production, the ones are very good workers” and that “it can be a good producer of goods, replacing many goods from China and even some from the United States.”

He considers that this scenario, in which Mexico advances to move China from the US market, “is good for Mexico,” as the telecommunications giant concluded about the business possibilities between the two countries at the border.

According to figures from the Department of Commerce of Mexico, the country surpassed China last year as the main source of imports from the United States, with a value of sales of more than 475 billion dollars.

Economic relations between the United States and China have deteriorated significantly in recent years, as Beijing has aggressively fought in the trade area and made hostile moves.

In his first administration, Trump imposed tariffs on Chinese imports, arguing that China’s trade practices violated global trade rules. For his part, US President Joe Biden has continued with these tariffs after taking office in 2021, explaining that the antagonism with China will be one of the few areas where Democrats and Republicans share common ground.

Biden urged companies to find suppliers in allied countries or return to manufacturing in the United States

Regarding Mexico’s electoral outlook, Slim also expressed optimism and took the opportunity to recommend that the next government focus on increasing investments to more than 28% of the Gross Domestic Product (GDP) and continue the policy of salary increases. which was promoted by the president of Mexico. , Andrés Manuel López Obrador, to ensure the development of Mexico.

The Mexican leader remains cautious about López Obrador’s six-year term, which ends in September, but when asked about the increasing number of tasks the military has assumed during this period, he admitted that they are involved in “many things.”

This story is a corrected version: Carlos Slim did not clearly say that a victory for Donald Trump in the United States would be good for Mexico, as first published by The Associated Press, but instead spoke more generally about the productive and commercial advantages that Mexico could have. after the upcoming presidential elections in the United States.

World Nation News Desk
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