Mexico city: Mexican President Claudia Sheinbaum on Sunday expressed confidence in her government’s ability to reach a favorable trade agreement with the US and other countries. She emphasized the importance of adapting to the evolving trade landscape, highlighting her administration’s proactive steps in this direction.

According to Qatar News Agency, President Sheinbaum announced plans to unveil the progress of “Made in Mexico” initiatives in the coming weeks. These projects aim to advance the development of electric cars, semiconductors, satellites, and drones. Such initiatives are intended to align with the shifting dynamics of international trade, ensuring that Mexico remains competitive on the global stage.

The president also revealed plans to establish a local artificial intelligence laboratory, which would further bolster the country’s technological capabilities. This move is part of a broader strategy to foster innovation and economic growth within Mexico.

As the second-largest economy in Latin Ame
rica, Mexico has managed to largely sidestep the impact of tariffs imposed by the previous US administration under President Donald Trump. This has been possible due to the free trade agreement with the United States and Canada, which is set to undergo a review next year.

In a related development, Mexico announced the imposition of tariffs on countries with which it lacks trade agreements, particularly targeting China. This decision reflects Mexico’s strategic efforts to protect its economic interests while navigating complex international trade relations.