Mexico’s New US Ambassador Sees USMCA Deal Coming Together This Year

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Or sign-in if you have an account.Roberto Lazzeri Montano, general director of Bancomext, speaks during a national meeting to promote investment at Museo de Antropologia in Mexico City, Mexico, on Wednesday, Feb. 4, 2026. Mexico's government plans to invest 5.6 trillion pesos ($323 billion) into energy projects and other public works through 2030, part of a bid to boost an economy that has barely expanded in recent years. Photo by Stephania Corpi /Bloomberg(Bloomberg) — The high-stakes review of North America’s free trade pact should be completed later this year, Mexico’s top diplomat in the US said in an interview with Bloomberg Television.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountRoberto Lazzeri, who took over as Mexico’s ambassador to Washington last month, emphasized that the US, Mexico and Canada need to accelerate trade talks to give investors more certainty and preserve the region’s competitive advantages.“The baseline for us is that we have a 10 year agreement. Yes, this may take some time. We expect that it’s done this year,” Lazzeri said. Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againThe diplomat expressed optimism that both the US and Canada share the timeline, and argued that any delay getting to a mutually agreed deal amounts to an economic hit. “Every moment we are losing, we are losing competitiveness and market share,” he said.The USMCA covers roughly $2 trillion in trade among the three nations. The US opted against a 16-year renewal earlier this month, favoring instead annual reviews over the next ten years as talks continue. Unless one of the governments formally moves to exit the agreement, it remains in effect until 2036.Lazzeri’s bullish remarks on the possibility of a finalized deal come just days before a third round of bilateral US-Mexico trade talks, set for July 21 in Mexico City. US Trade Representative Jamieson Greer is scheduled to attend the three-day session. He’s also expected to meet with President Claudia Sheinbaum during the trip.Before he was tapped to be US ambassador, Lazzeri headed local development banks Bancomext and Nafin, and prior to that he served as chief of staff to a pair of Mexican finance ministers.He said businesses looking to expand in Mexico need more certainty to commit capital, and that if USMCA negotiations drag on it could discourage investment across highly integrated North American supply chains.Lazzeri’s comments were broadly in line with recent comments from Mexico’s Economy Minister Marcelo Ebrard, the country’s top USMCA negotiator.Mexico’s overall relationship with the US shouldn’t be viewed only through the two neighbors’ trade ties, he added. He called USMCA “a fine piece of architecture” signed by President Donald Trump during his first term in office. The diplomat stressed that much has changed since the accord took effect six years ago, increasing the need for regional coordination.Asked about the recent deaths of Mexican nationals in the custody of US immigration agents, Lazzeri pointed to daily discussions between authorities from both countries. He called for protocols and oversight for the enforcement operations playing out across the US, but didn’t go into further detail. “We want to have not one life lost in these operations,” Lazzeri said.—With assistance from Joe Mathieu and Kailey Leinz.(Updates with quotes from the ambassador, details on trade talks from the sixth paragraph.)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.