EU and Mexico Finalize Revamped Trade Agreement

The European Union and Mexico have finalized a revamped free-trade agreement, modernizing the partnership that has been in place for 25 years. This move comes amid threats from U.S. President-elect Donald Trump, who has criticized EU trade practices and proposed tariffs on Mexican goods. The agreement will boost EU-Mexico trade, valued at €82 billion in 2023, and aims to open new markets for EU exporters, especially in agriculture and services. It includes commitments on labor rights, environmental protection, and sustainability, with a dispute settlement mechanism to enforce these provisions. The updated deal is seen as a strategic move to strengthen economic ties and promote shared values such as human rights and climate action. Before it can be ratified, the agreement must be scrutinized by the European Parliament and other EU member states.