Mexican Economy Minister Ebrard said on Thursday that after the US government announced that it will impose new tariffs of 10% and 12.5% on 60 trading partner countries starting Friday, “there will be no change in the actual tariff rate paid by Mexico.” According to a senior Trump administration official, many products will be exempted, including those that meet the trade terms of the US-Mexico-Canada agreement. Ebrard said in a video posted on social media that the USMCA exemption clause means that about 85% of Mexican exports to the US will continue to enjoy duty-free treatment. Another 10% of goods are subject to section 122 of the 1974 Trade Act, a measure that expires on Friday. Ebrard added that the new tariffs will take effect when the original tariffs expire and apply to the same 10% of goods. “The new tariffs have replaced the old tariffs, so the tariff treatment remains the same,” he said.

Mexican Economy Minister Ebrard said on Thursday that after the US government announced that it will impose new tariffs of 10% and 12.5% on 60 trading partner countries starting Friday, “there will be no change in the actual tariff rate paid by Mexico.” According to a senior Trump administration official, many products will be exempted, including those that meet the trade terms of the US-Mexico-Canada agreement. Ebrard said in a video posted on social media that the USMCA exemption clause means that about 85% of Mexican exports to the US will continue to enjoy duty-free treatment. Another 10% of goods are subject to section 122 of the 1974 Trade Act, a measure that expires on Friday. Ebrard added that the new tariffs will take effect when the original tariffs expire and apply to the same 10% of goods. “The new tariffs have replaced the old tariffs, so the tariff treatment remains the same,” he said.