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Finance and foreign ministers in Mexico to talk trade ahead of Carney's visit

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Mexican President Claudia Sheinbaum, left, speaks before a meeting with Prime Minister Mark Carney at the G7 Summit in Kananaskis, Alta., on Tuesday, June 17, 2025. THE CANADIAN PRESS/Darryl Dyck

OTTAWA — Foreign Affairs Minister Anita Anand and Finance Minister François-Philippe Champagne flew to Mexico Monday to talk economic growth, trade and security with President Claudia Sheinbaum.

The two days of meetings are taking place ahead of Prime Minister Mark Carney's planned visit to Mexico to meet with Sheinbaum.

The U.S. hit Canada on Friday with a 35 per cent tariff on goods not compliant with the Canada-United States-Mexico agreement on trade, known as CUSMA. Mexico, meanwhile, received a 90-day reprieve from threatened higher U.S. levies.

CUSMA is scheduled for a mandatory review next year.

Ontario Premier Doug Ford last year called for a bilateral trade deal between Canada and the United States because he said Mexico was serving as a back door for Chinese auto parts and vehicles entering the North American market.

The automotive sector is one of the biggest drivers of trade between Canada and Mexico. Vehicles and auto parts account for 20 per cent of Canada's exports to Mexico and 37 per cent of Canadian imports from its southern partner, according to Economic Development Canada.

The auto sector has been a key target of U.S. President Donald Trump's tariffs. The North American automotive supply chain is spread between the three countries and Trump has said he wants to build up end-to-end auto manufacturing in the U.S.

Mexico is one of Canada's biggest trading partners for various commodities, including oil and gas, steel and aluminum.

Canada's imports from Mexico include tropical fruits, broadcast equipment and medical devices, according to Mexico's economy ministry.

Anand and Champagne were also expected to meet with Canadian and Mexican business leaders during their trip.

This report by The Canadian Press was first published Aug. 5, 2025.

David Baxter, The Canadian Press

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