Mexican President Claudia Sheinbaum announced on Wednesday that she and Canadian Prime Minister Mark Carney have agreed to strengthen trade cooperation amid growing tensions over new U.S. tariffs set to take effect on August 1. The move comes in response to threats from U.S. President Donald Trump, who has warned of sweeping tariffs on imports from Mexico, Canada, and the European Union.
Speaking at her daily press briefing, Sheinbaum emphasized the importance of upholding the U.S.-Mexico-Canada Agreement (USMCA), stating that both leaders had received letters from Trump and were aligning their responses. "We both agreed the trade agreement must be respected," she said, highlighting coordinated efforts to negotiate with Washington before the deadline.
Trump's recent tariff threats have triggered concern across North America, prompting swift diplomatic and business responses. Sheinbaum revealed that Carney plans to visit Mexico soon to continue discussions, although no official date has been confirmed.
In preparation for talks with the Trump administration, Sheinbaum has also met with top Mexican business leaders, including billionaire Carlos Slim, whose holdings include telecom giant América Móvil (NYSE:AMX) and Grupo Carso. She also consulted executives from major companies such as breadmaker Bimbo and several steel manufacturers.
To support Mexico’s position, Sheinbaum urged these companies to document their planned U.S. investments, suggesting this could strengthen Mexico’s hand in negotiations. "One of the things I asked them was, ‘Why don’t we lay out, in black and white, the investments that they have planned in the United States?’" she said.
As the August 1 tariff deadline approaches, Mexico and Canada appear unified in their pushback, reinforcing their trade partnership and aiming to safeguard regional economic stability.