Francisco Cervantes Emphasizes the Importance of Balancing National and Regional Production
Francisco Cervantes, president of the Mexican Business Coordinating Council (CCE), highlighted the need to promote local production in Mexico through the “Hecho en México” program while ensuring that regional production for North America is not neglected.
Agreement to Increase National Content in Supermarkets
Cervantes expressed confidence that the Mexican supermarket sector, represented by the National Association of Self-Service Stores (ANTAD), is prepared to meet the new goal of increasing national content from 50% to 70% in supermarkets as part of the Plan México agreement with the federal government.
- The supermarket sector in Mexico has demonstrated its readiness to achieve this target, according to Cervantes.
- ANTAD members have shown commitment to this goal, backed by ample production capacity.
“Hecho en México” and Regional Production
Cervantes emphasized the significance of promoting “Hecho en México” products while maintaining regional production for North America:
- “Hecho en México” products are already present in US supermarket shelves, with leading national brands.
- Balancing “Hecho en México” promotion with regional production is crucial, as Mexico produces extensively for the US market.
New Industries in the Mexico-US-Canada Agreement (T-MEC)
Cervantes mentioned that the upcoming review of the T-MEC should include two emerging industries: semiconductors and electromobility, which have seen significant development in recent years.
Impuesto a las Remesas
Reassurance on the Proposed 5% Tax on Remittances
Regarding the proposed 5% tax on remittances by the US Republican Party, Cervantes stated that the business sector is confident that an agreement will be reached between the Mexican and US governments.
- The impact on Mexican families receiving remittances would be minimal, according to Cervantes.
- Mexico has been collaborative and cooperative in negotiations, he added.
Importation of Live Cattle and Potential Resolution
Cervantes acknowledged that the suspension of Mexican live cattle imports due to the screwworm issue would affect the Mexican agricultural sector. However, he expressed optimism about reaching an agreement with the US government.
Cervantes shared that he recently traveled to Washington with a delegation for an event promoting investments, attended by US congressmen.
The Republican Party’s initiative for a 5% tax on remittances was approved in the House Financial Services Committee but still needs approval from the entire US Congress.
