The European Union and Mexico signed a long-stalled free trade agreement on Friday, January 17, 2025, aiming to decrease their economic dependence on the United States. The deal was finalized during the eighth EU-Mexico Summit in Mexico City.

European Commission President Ursula von der Leyen stated: "The goal is simple: We want to create more jobs and generate more value on both sides of the Atlantic." She added that the agreement "gives us great wings to fly very high."

The updated accord expands on the 2000 trade pact by providing duty-free access for almost all goods, including agricultural products. The previous agreement covered only industrial goods.

Mexican President Claudia Sheinbaum emphasized the need for "opening other horizons" amid ongoing US trade tensions. "We are living through complex times on the international stage, but it is precisely at moments like these that we must act with greater cooperation, dialogue, and humanist vision," she said.

According to Mexico's Economy Ministry, the new deal could boost Mexican exports to the EU from approximately $24 billion annually to $36 billion by 2030. The EU currently exports about $65 billion in goods to Mexico each year.

European Council President Antonio Costa called the agreement "a true geopolitical statement." The signing comes as the US regime under President Donald Trump has imposed new tariffs on both the EU and Mexico, prompting both sides to seek alternative trade partnerships.

Source: www.dw.com