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The country's major business groups expressed relief on Saturday following the White House's announcement of an agreement with Mexico and the abandonment of the proposed tariff on its products.
The groups urged both parties to build on this momentum by ensuring that the US-Mexico-Canada agreement, a trade agreement that would replace the North American Free Trade Agreement of 1993, be ratified by the three countries.
"We are very pleased that the Trump administration and the Mexican government have reached an agreement to address the migration crisis at the border and eliminate the threat of new tariffs.This is good news for businesses and American consumers, "said Tom Donohue, CEO of the American Chamber of Commerce, the largest trade association in the country.
Donohue added: "In the face of the threat of tariffs, it is essential that Congress pay attention to the promulgation of the USMCA Trade Agreement." USMCA will preserve and strengthen North American trade, thereby boosting economic and social growth. creating jobs, dedicating all its resources to securing the passage as soon as possible of USMCA. "
The Business Roundtable, which represents leaders of the country's companies, expressed "relief" after the announcement but added: "We remain deeply concerned about the use of the threat or imposition customs duties to impose policy changes on our neighbors and allies ". The group is also committed to helping the passage of the agreement.
President Trump had threatened to impose 5% tariffs on all Mexican goods as of Monday, then rise an additional 5% every month, to reach a maximum of 25%, if Mexico did not stop not immigration to the United States. After several days of negotiations, Trump announced Friday night that tariffs were "suspended indefinitely" as a result of an agreement in which Mexico had agreed to step up law enforcement and enforcement. 39, accept more asylum seekers. The terms of the agreement will be finalized within the next 30 days.
Trump's threat was seen as a potential danger to the USMCA's ratification, which had been passed by the Mexican Senate the same day the president had presented the tariff threat.
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