This issue could even be brought up in the review of the USMCA in 2026, in which some action could be determined to limit further Chinese investments in Mexico.
Rubin noted that China is becoming the main trading partner of several Latin American countries, so the aim is to prevent the “red tide” from dominating Mexico, and the United States wants to remain the number one trading partner.
In addition, Mexico is intended to prevent Chinese companies from using it as a springboard to reach the United States, although in some cases it is difficult to detect this situation because they come from other Latin American countries and it is not listed as the capital of the Asian giant.
“This is a huge concern that I have had the opportunity to discuss with members of Congress in the United States, as well as in the White House, (…) and certainly with business leaders in the United States and Mexico.
“There is no company that can compete particularly with the Chinese government,” Rubin said at a press conference to announce the third Binational Convention, to which Claudia Sheinbaum, the next president of Mexico, has already been invited to discuss the topics on the agenda, such as the scenarios for the upcoming elections in the United States, non-reshoring and the review of the T-MEC.
In the words of the president of AMSOC, China can indeed become a derailer between Mexico and the United States’ trade, “we must ensure that the USMCA is being used exclusively by Mexican companies.”
Regarding the review of the USMCA, Larry Rubin considered that it will be complex, since the three countries have issues on the table, such as the intellectual property chapter, with which they have not complied.
There will also be the energy issue, which will be important for the investments of US companies to materialize, because many of them already have commitments with investors and international investors to use renewable energy in their operations, so if Mexico does not guarantee this, they will opt to go to other countries.
But the expectation from AMSOC is that despite the difficulties in the review of the T-MEC, it will be successful.
