Mexico was the EU’s 11th largest partner for exports (2% of total extra-EU imports) and the 15th largest for EU imports (1% of total extra-EU exports) in 2018.
The European Commission approved the addition of ‘Tequila’, a Mexican spirit drink, in the EU register of protected geographical indications (PGI). The protection was granted under the EU spirits regulation of 2012, giving it the same recognition as EU spirit geographical indications (GIs).
The world’s largest economies, particularly the EU, China, the US, Mexico and Canada, are all projected to suffer economically from the re-emergence of economic protectionism, and a significant increase in trade tariffs. In the case of the EU, the bloc would experience a 1% contraction in GDP, a 0.3% lower rate of employment, and a 1.1% decrease in imports by 2030, compared to a ‘no new tariffs’ baseline scenario.