"Mexico Market Should Be Approached as a North American and Latin American Export Hub, Not Just for Cost Reduction"

'Seminar on Trade Policy Outlook and Business Environment After the Mexico Presidential Election'

On the 18th, the Ministry of Trade, Industry and Energy held a 'Post-Mexico Presidential Election Trade Policy Outlook and Business Environment Briefing' jointly with the Korea-Latin America Association at COEX in Seoul.

This briefing was organized to enhance companies' understanding of the future trade policy direction of Mexico and factors affecting the local business environment following the recent Mexican presidential election (June 2), in which the ruling party candidate Claudia Sheinbaum was elected.

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President-elect Sheinbaum declared that she would continue the key policies of the current President Andr?s Manuel L?pez Obrador. The Ministry of Trade, Industry and Energy expects that Mexico will maintain its protectionist stance while maximizing nearshoring opportunities amid the US-led supply chain restructuring, aiming to solidify its position as a global production hub through its trade policies.

At the briefing, Dr. Hong Seong-woo from the Korea Institute for International Economic Policy analyzed that Mexico's business environment will be significantly influenced not only by the Mexican presidential election but also by the upcoming US presidential election in November this year. He emphasized the need to prepare for uncertainties arising from China's indirect exports, the 2026 renegotiation of the United States-Mexico-Canada Agreement (USMCA), and Mexico's trade surplus with the US.

The KOTRA Mexico City Trade Office explained the regional characteristics of Mexico and the investment entry procedures to help Korean companies practically utilize them when entering the local market, urging companies to approach Mexico not merely as a cost-saving measure but as an export base for the North American and Latin American markets.

Jang Seong-gil, Director General of the Trade Policy Bureau at the Ministry of Trade, Industry and Energy, said in his opening remarks, "The US is strengthening its efforts to curb China's indirect exports through third countries such as Mexico." He added, "The Ministry will continue to monitor the US government's trade policy stance toward Mexico and China and strive to assist Korean companies in resolving difficulties and entering the Mexican market."

This content was produced with the assistance of AI translation services.