MEXICO CITY – Business leaders are seeking to avoid a rise in consumer prices in Mexico as a result of a possible trade war with the United States, Mexico’s National Agricultural Council (CNA) said Wednesday.
“We have to find a way to avoid consumers from being affected, to monitor prices of domestic production and find alternative sources for product supply,” the head of the CNA, Bosco de la Vega, said during a press conference.
De la Vega said that, in the case of pork, new suppliers will be sought out in Europe.
Last week, the United States imposed tariffs of Mexican steel and aluminum exports, while the Mexican government responded by imposing tariffs on a wide range of US products such as steel, pork and apples.
De la Vega hailed his government’s “strong, effective and accurate” response, adding that it was crucial to “generate a counterweight” to put pressure on US President Donald Trump.
During the press conference organized by the CCE, Mexico’s most powerful business organization, De la Vega said he is still optimistic that the 1994 North American Free Trade Agreement (NAFTA) will be successfully updated, despite the complexity of the negotiations and talk of a trade war.
CCE chairman Juan Pablo Castañon found it encouraging that the four presidential candidates for Mexico’s upcoming July 1 election have shown their support for the trade agreement between Mexico, the United States and Canada.
“Mexico will not leave the negotiating table, but our country should respond to any of its trade partners’ attacks,” he said.