by Emmitt Barry, Worthy News Correspondent
(Worthy News) – The European Union and Mexico agreed on a new trade agreement on Friday just before President Trump assumes office on Monday, the Wall Street Journal reported.
Ahead of President-elect Trump’s threats of steep tariffs on both the EU and Mexico, the two regions have reached a trade agreement, pending approval from both governments. The deal would eliminate Mexico’s high tariffs on EU goods like cheese and wine, enhance European exports in financial services and e-commerce, strengthen supply chains for critical raw materials, and promote EU investment in Mexico. It would also provide EU companies access to Mexican government contracts and vice versa.
“The EU and Mexico are already trusted partners. Now, we want to deepen our cooperation even further, strongly benefiting our people and economies,” said Ursula von der Leyen, president of the European Commission, on Friday. “This landmark deal proves that open, rules-based trade can deliver for our prosperity and economic security, as well as climate action and sustainable development,” she added.
Mexico is the EU’s second-largest trading partner in Latin America, with trade in goods reaching 82 billion euros ($84.39 billion) in 2023. The new trade deal, which updates a previous agreement from 2000, will make a range of goods, particularly in agriculture and food, duty-free.
Copyright 1999-2025 Worthy News. This article was originally published on Worthy News and was reproduced with permission.
Latest Stories from Worthy News
The European Union and Mexico agreed on a new trade agreement on Friday just before President Trump assumes office on Monday, the Wall Street Journal reported.
U.S. Sen. Ted Cruz, R-TX, is leading an effort to reverse actions taken against military service members through a U.S. Department of Defense COVID-19 vaccine mandate, including protecting religious freedom.
Donald Trump, the 45th president of the United States, will be sworn in as its 47th at noon eastern Monday at an inauguration ceremony that was moved indoors because of anticipated freezing temperatures in Washington D.C..
Israelis across Israel celebrated Sunday the release of three women by Hamas, the first of nearly 100 hostages due to return home, dead or alive, following their abduction on October 7, 2023.
Hamas named the three hostages it planned to release Sunday, more than two hours after the ceasefire in Gaza was supposed to have begun. Israel had earlier made clear it would keep fighting until it received the names.