EU and Mexico Sign Landmark Trade Deal amid US Protectionism

The European Union and Mexico have agreed to expand trade cooperation as protectionism rises under US President Donald Trump. The updated deal aims to boost trade and investment between "likeminded partners", according to Brussels.

Trade between the EU and Mexico is worth around 100 billion euro a year. Mexico is the EU's second-largest trading partner in Latin America after Brazil, while the EU is Mexico's third-largest partner.

The agreement will reduce tariffs on a range of products and improve access for European firms to the Mexican market, including public procurement. Mexico will also recognise hundreds of European regional food and drink products, such as Parma ham and Roquefort cheese.

The EU will gain better access to critical raw materials from Mexico, reducing its dependence on China. The deal also covers European exports of machinery, medicines and car parts.

Brussels has stressed that the agreement is not designed to allow Chinese manufacturers to route car exports to the European market via Mexico.

(france24, lud)