Judith Garza, Institutional Senior Director of Terniu, Mexico, and Guillermo Vogel, Vice President of the Administrative Council of TenarisTamsa, participated in the morning press conference held by Mexico's President, Claudia Sheinbaum.
During the morning press conference “La Mañanera” of Claudia Sheinbaum, President of Mexico, the Economic Development and Business Relocation Advisory Council (CADERR) was officially announced. This initiative aims to revitalize industrial policy, encourage strategic planning, and harness the potential of nearshoring.
The event was attended by Judith Garza Rangel, Institutional Senior Director of Ternium Mexico and coordinator of the Cuarto de Junto (War Room) of the Business Coordinating Council (CCE), an autonomous organization representing the country’s business sector, as well as Guillermo Vogel, Vice President of the Administrative Council of TenarisTamsa and co-chair of the US-Mexico CEO Dialogue for Mexico.
In the Q&A session of the event, Vogel highlighted Mexico’s crucial role in regional trade, emphasizing that the country is a strategic partner to strengthen North America’s competitiveness against China. “We see three major regions where trade has become more regionalized: Europe, with Germany at the center and more eastern countries with lower costs; Asia, with China at the center and other regions with very competitive costs like Malaysia, Vietnam, and Indonesia; and North America, where Mexico plays a key role in complementing regional competitiveness. When analyzing this landscape, it is clear that China has gained significant commercial space against our region. For example, the share of the United States in global exports fell 30% from 2000 to 2020.”
“The United States needs us as a key trade partner to confront China. We need to be allies and work together. The tariff scheme proposed by Trump would significantly reduce the competitiveness of U.S. exports to the world. Moreover, from a geopolitical perspective, we see how China continues to gain commercial share. The key is to understand, from our position, how we can strengthen the country to confront China. Mexico imports $120 billion, the U.S. $450 billion, and Canada $60 billion. If we manage to relocate those jobs to the region, we can generate more work, improve wages, and drastically reduce migration,” he added.
Finally, he concluded: “We will work closely with the national government to benefit all of North America.”
Sheinbaum's measure comes days after the announcement by Donald Trump, the elected President of the United States, who confirmed that when he begins his mandate, he will apply additional tariffs of 10% on products from China and 25% on all goods imported from Mexico and Canada.