MEXICO CITY (EFE).— The International Chamber of Commerce (ICC) considered yesterday that a possible fragmentation of the Treaty between Mexico, the United States and Canada (T-MEC) toward bilateral agreements would be “a disaster”although she was confident that the trilateral scheme that currently governs trade in North America.
During a news conferencethe national president of ICC Mexico, Claus von Wobeser, expressed optimism regarding the future of the trade agreement. He noted that the Government maintains preserving the trilateral format as a priority and highlighted the diplomatic work being carried out in Washington. “I am an optimist,” he stated, ruling out a scenario without a trade agreement in force.
Von Wobeser maintained that the economic interdependence between the three countries the disappearance of the agreement is unviable. He indicated that productive integration, especially between Mexico and the United States, is clearly reflected in the automotive industry.
“The United States could not produce a single car without Mexican auto parts,” he said, emphasizing that said industry depends on regional supply chains. He added that Canada represents “a very important player” within the North American commercial framework.
The positioning occurred during a debate on the increase in protectionism in international trade. In this context, the secretary general of the ICC, John Denton, warned that the greatest risk to global commercial activity It is not only the tariffs, but the uncertainty they generate in the business sector.
Denton explained that the lack of clarity in trade rules causes companies to delay investments that could translate into new projects. He stressed that this situation does not only affect large corporations, but also small and medium-sized companies.
Likewise, he indicated that USA It represents about 13% of global trade in goods, so it alone could not trigger a global trade war. In that sense, he called on other economies to avoid trade retaliations that could increase instability.
The vice president of the ICC Global Commission on Trade and Investment Policy, Ricardo RamírezHe added that market diversification faces logistical and infrastructure obstacles. He noted that, even in a scenario of bilateral agreements, challenges would persist in managing rules of origin and trilateral accumulation, because numerous products cross the borders of the three countries several times during their manufacturing process.
Climactic moment
Global trade faces a critical moment due to the increase in unilateral measures, protectionism and the paralysis of essential functions of the World Trade Organization (WTO), warned the ICC, which proposed a set of actions to rescue the exchange of goods and services as an engine of growth and employment.
According to the organization, an eventual collapse of the multilateral system would have severe consequences, such as fewer exports, greater uncertainty, loss of investments and effects on employment; in it case of Mexico, economy integrated into global value chains, strengthening the WTO “is not an ideological option, but a strategic necessity.” Oxford Economics estimates that, if trade tensions continue, global GDP could fall around 5.1% by 2030.
Given this scenario, The ICC proposed a Pact for Trade, Growth and Jobs, which includes convene a formal round of negotiations, strengthen dispute resolution mechanisms and advance digitalization.
The secretary general of the ICC, John Denton, warned that uncertainty slows down investments and hiring of personnel, while the president of ICC Mexico, Claus von Wobeser, warned about the risk of greater commercial fragmentation.
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