Mexican President Claudia Sheinbaum pledged to increase purchases of American goods to address the growing trade deficit with the United States, aiming to facilitate a bilateral agreement. During a Tuesday press conference, Sheinbaum stated her government is working to grow US imports to achieve more balanced trade, following her recent conversation with former President Donald Trump. Trump had pressured Mexico to do more to correct the imbalance, noting the country had not done enough.
Mexican imports from the US surged 51% year-to-date through August, reaching over $280 billion, according to central bank data. Sheinbaum emphasized efforts to promote domestic self-sufficiency in sectors like gasoline and grains, where US import flows are significant. She indicated progress on key issues but acknowledged further work is needed to satisfy Trump's concerns about unfair trade practices.
The two leaders agreed to continue working toward a deal and meet again.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing