Mexico City. The spirit of economic cooperation between Mexico and the United States may be shattered if the tax credit plan for electric cars is approved by the Congress of the neighboring country to the north, private initiative organizations said.
The confederations of National Chambers of Commerce, Services and Tourism (Concanaco-Servytur) and Industrial Chambers (Concamin) supported the position of the Ministry of Economy (SE) to impose commercial retaliation in strategic sectors for the United States, as announced by the head of the federal agency, Tatiana Clouthier.
“If this proposal is approved in the aforementioned terms, the spirit of economic cooperation between the United States and Mexico, reflected in the Mexico, United States and Canada Treaty (T-MEC) and so important for the economic growth of both countries, would be broken”, stressed.
The business leader considered that the approval of a tax credit for electric vehicles in the American Union, as part of the legislative initiative Build Back Better Act, violates the free trade provisions with Mexico and seriously harms the national automotive sector.
Concanaco expressed its deep concern about the bill that is in the US Senate, as it proposes to grant a tax credit amount of up to $ 12,500 for electric vehicles assembled in that country, in addition to other incentives for components also produced in its country. territory.
Concanaco commented that the proposals “clearly discriminate against the production and export of vehicles in Mexico.”
He pointed out that it puts a sector that plays a strategic role in the economy of value chain integration in the North American region at a disadvantage.
Proof of this, he said, is that the manufacture of cars, trucks and parts for motor vehicles represents 20 percent of the national manufacturing gross domestic product.
Data from the National Institute of Statistics and Geography (Inegi) indicate that from January to October 2021, Mexico exported 2,239,174 units, a figure that translated into an increase of 5.3 percent compared to the same period in 2020.
Last October, the export figure reached 224 thousand 535 units, lower than that registered in the same month last year, which was 257 thousand 813.
“The Confederation thus supports any action undertaken by the SE and aimed at protecting the interests of Mexican businessmen,” he concluded.
For its part, Concamin expressed its solidarity with the Mexican Association of the Automotive Industry (AMIA) and the Mexican families that could be affected in their economy with these decisions, since if the initiative complies with the corresponding legislative process and enters into force, it would cause negative effects considerable.
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