MEXICO CITY.- He Mexican businessman Carlos Slimone of the richest men in the world, stated that the possible return of Donald Trump to the US presidency It could be positive for Mexico and represent business possibilities that would strengthen the close commercial relations between the two countries.
Faced with the upcoming US elections, Slim was optimistic and said that a possible Trump’s return to government “would be good” for Mexico.
“Mexico can be a great producer of goods, substituting many things in China,” expressed the telecommunications magnate when talking about the business possibilities that could be opened to Mexico in the face of China’s displacement from the US market.
In 2023, The US imported more goods and services from Mexico than any other country in the world and displaced China for the first time in 21 years, according to data published by the US Census Bureau last Wednesday.
Mexican exports to its neighbor totaled $475.606 million last year, a jump of 4.6% compared to 2022. For its part, China sold 20% less to Americans in 2023 compared to the previous year. Exports totaled 427,229 million dollars.
Economic relations between the US and China have seriously deteriorated in recent years, while Beijing has fought aggressively in the trade area and made ominous gestures.
In his first administration, Trump imposed tariffs on Chinese imports, arguing that China’s trade practices violated global trade rules. For his part, US President Joe Biden maintained these tariffs after taking office in 2021, making it clear that antagonism towards China would be one of the few areas in common for Democrats and Republicans.
Biden has urged companies to look for suppliers in allied countries or return to manufacturing in the United States.
Regarding the electoral outlook in Mexico, Slim also expressed optimism and took the opportunity to recommend to the next government that it concentrate on raising investments to more than 28% of the Gross Domestic Product (GDP) and maintain the policy of salary increases promoted by the president. Andrés Manuel López Obrador, to ensure the development of Mexico.
The Mexican magnate remained cautious when speaking about López Obrador’s six-year term, which ends in September, but when asked about the increasing tasks that the military has assumed in this period, he admitted that they are involved in “too many things.”
Source: With information from AP
