Simply Economics, from Mexico

Argentinians Prioritize Economy Over Football, Mexico Requests Tariff Elimination

Almost 70% of Argentines are more concerned about their economy than the final of the Copa América. Mexico asks the EU to eliminate tariffs on Mexican solar panels. Explore the shifting priorities of young Argentinians amidst the economic crisis and the potential consequences for the country. Also, gain insights into the impact of tariffs on the Mexican and American economies and the importance of sustainable energy. Simply Economics delves into the intersection of sports and economics in Argentina and the need for collaboration in trade disputes.Sources:https://www.larepublica.co/globoeconomia/por-primera-vez-los-argentinos-estan-mas-preocupados-por-su-economia-a-final-de-mes-que-por-el-futbol-3906738https://netnoticias.mx/nacional/pide-economia-a-eu-eliminar-aranceles-a-paneles-solares-mexicanosOutline:(00:00:00) Introduction(00:00:38) Ask EU to eliminate tariffs on Mexican solar panels

Duration:: 3m
Broadcast on:: 13 Jul 2024
Audio Format:: mp3

Almost 70% of Argentines are more concerned about their economy than the final of the Copa América. Mexico asks the EU to eliminate tariffs on Mexican solar panels. Explore the shifting priorities of young Argentinians amidst the economic crisis and the potential consequences for the country. Also, gain insights into the impact of tariffs on the Mexican and American economies and the importance of sustainable energy. Simply Economics delves into the intersection of sports and economics in Argentina and the need for collaboration in trade disputes.

Sources:
https://www.larepublica.co/globoeconomia/por-primera-vez-los-argentinos-estan-mas-preocupados-por-su-economia-a-final-de-mes-que-por-el-futbol-3906738
https://netnoticias.mx/nacional/pide-economia-a-eu-eliminar-aranceles-a-paneles-solares-mexicanos

Outline:
(00:00:00) Introduction
(00:00:38) Ask EU to eliminate tariffs on Mexican solar panels

Good morning, and welcome to Simply Economics from Mexico. It's Saturday, July 13th. On today's show, almost 70% of Argentines express more concern for their economy than for the final. Plus, there's a call for the EU to eliminate tariffs on Mexican solar panels. This coverage and more up next. I'm David, and you're listening to Simply Economics from Mexico. I apologize for the confusion, but without the necessary context, it's difficult to provide a suitable transition. However, shifting our focus to international trade, the Mexican government is urging the Biden administration to remove the additional tariff imposed on Mexican solar panels exported to the United States. The Ministry of Economy warns that the measure could have serious consequences for the North American supply chain, potentially leading to factory closures and job losses. For more on this developing story, we turn to our correspondent in Mexico City. What can you tell us about the origins of this tariff and its impact? The safeguard measure was initially implemented back in 2018 under then-President Donald Trump. The goal was to protect the US photovoltaic industry, which heavily relies on imported panels from China and other Asian countries. However, under the legislation, the Office of the US Trade Representative is required to negotiate these tariffs with Mexico and Canada, an issue that has remained unresolved since the measure was first established. And the White House recently decided to extend these tariffs for another four years, correct? How has that further complicated the situation for Mexican exporters? That's right. In 2022, the Biden administration chose to extend the tariffs for an additional four years, which has only exacerbated the challenges faced by Mexican exporters. The Mexican Secretary of Economy, Raquel Buenrostro, is now emphasizing that the resolution of this issue must strictly adhere to the provisions of the USMCA trade agreement between the three North American nations. What is the Mexican government's stance on finding a resolution to this ongoing trade dispute? Secretary Buenrostro is stressing the importance of reaching a solution that benefits workers in both countries while preventing the conflict from escalating to a point where it could negatively impact the economies of both the US and Mexico. The Ministry of Economy's letter to US, Trade Representative Catherine Tai argues that the current situation goes against the shared objectives of both governments to protect regional jobs and promote the transition to sustainable energy. It's a complex issue with potentially far-reaching consequences for both countries. We'll continue to monitor any developments in the ongoing negotiations. Thank you for your insights from Mexico City today. And with that, we wrap up our stories for today. Thanks for listening to Simply Economics from Mexico. We'll see you back here tomorrow. ‬♬ [BLANK_AUDIO]