EU and Mexico Sign Modernised Trade Deal to Reduce US Dependence

On 22 May 2026, Ursula von der Leyen, António Costa and Claudia Sheinbaum signed a modernised Global Agreement updating the 2000 EU-Mexico pact. The deal removes tariffs on about 99 % of goods, grants duty-free access for agri-food items such as pork, cheese, pasta, chocolate, poultry and eggs, and expands provisions for services, digital trade, public procurement and investment protection. It also safeguards 568 EU and 26 Mexican geographical indications.

EU and Mexico to Sign Updated Trade Deal Eliminating Tariffs on 99% of GoodsEuronewsEU, Mexico Sign Upgraded Trade Deal During First Summit in 11 YearsFrance 24DW NewsEU-Mexico trade deal expands access for Mexican fruit exportsMexico signs revamped EU trade deal in Mexico City, targets 35% commerce boost

The 2000 pact covered only industrial goods; trade rose 75 % to €86 billion in 2025. About 80 % of Mexican exports still go to the US, a share strained by President Donald Trump’s tariffs. Both cite diversification from US reliance.

EU, Mexico Sign Upgraded Trade Deal During First Summit in 11 Years

Sources report total EU-Mexico goods trade at €86 billion, €86.8 billion or $94.5 billion; EU exports to Mexico are €53 billion and Mexican imports €34 billion. The deal is projected to boost bilateral trade 35 % in five years to roughly $128 billion and lift Mexican exports to the EU from $24 billion to $36 billion by 2030.

EU-Mexico trade deal expands access for Mexican fruit exports

The pact deepens the EU’s diversification, opening markets for agri-food, pharmaceuticals and machinery, while giving Mexico a platform to expand beyond its US-centric trade. It signals EU engagement in Latin America amid US protectionism and Chinese supply-chain growth.

Euronews

EU officials described the pact as a “shared vision” that will “deliver many benefits for both sides” and a response to “growing global uncertainty.” Mexican leaders emphasized “opening other horizons” and said EU-US agreements are “not contradictory.” The European Council called it a “geopolitical declaration” of fair-trade commitment.

The EU and Mexico seal a new trade agreement

EU farmers warned that broader liberalisation could harm domestic markets; the deal retains tariff quotas on sensitive agricultural products to avoid the Mercosur backlash.

Euronews

Sources differ on total trade volume (€86 billion, €86.8 billion, $94.5 billion) and EU export values, reflecting varied periods and currency conversions.

Mexico signs revamped EU trade deal in Mexico City, targets 35% commerce boost

• “The goal is simple: We want to create more jobs and generate more value on both sides of the Atlantic,” — Ursula von der Leyen, President of the European Commission

DW News

• “The agreements we have concluded in Mexico City are a true geopolitical declaration, a demonstration of our commitment to fair trade, shared prosperity, sustainability, and rules-based cooperation,” — António Costa, President of the European Council

The EU and Mexico seal a new trade agreement

• “Mexico wants to reduce its dependence on its northern neighbor, but also on Asian, or rather, Chinese, supply chains, and in Europe we are pursuing the same objectives,” — Claudia Sheinbaum, President of Mexico

France 24

• “At a time of growing global uncertainty, the EU and Mexico are choosing openness, partnership and ambition,” — Maroš Šefcovic, EU Trade Commissioner

Euronews

Tariff cuts begin immediately; remaining reductions follow a seven-to-ten-year schedule. Both sides must harmonise customs, certify pest-free zones and activate the Investment Court System. The European Parliament should ratify the pact within months, after which full gains are expected by 2028-2029.

EU, Mexico Sign Upgraded Trade Deal During First Summit in 11 Years