Protectionism big challenge for global trade: Mexico official

Source: Xinhua| 2018-09-20 07:11:16|Editor: Liu

Video PlayerClose

U.S.-LAREDO-MEXICO-SYMPOSIUM

Guillermo Malpica Soto, head of the trade and NAFTA office for Mexico's Ministry of Economy in Washington D.C., delivers a keynote speech at the 25th North American Logistics & Manufacturing Symposium in Laredo, the United States, on Sept. 19, 2018. The growing protectionism in the world is a big challenge for global trade and economy, Guillermo Malpica Soto said here Wednesday. (Xinhua/Liu Liwei)?

LAREDO, the United States, Sept. 19 (Xinhua) -- The growing protectionism in the world is a big challenge for global trade and economy, Mexican official said here Wednesday.

Guillermo Malpica Soto, head of the trade and NAFTA office for Mexico's Ministry of Economy in Washington D.C., made the remarks when delivering a keynote speech at the 25th North American Logistics & Manufacturing Symposium in Laredo, an American city on the border with Mexico.

"There are many challenges. One of the main challenges as you can see is the growing protectionism in the world," he said, adding that "it's important to stand for free trade. We need to be clear that trade benefits all."

Talking about tariffs that the United States imposed on Mexican steel and aluminum and Mexico's retaliatory measures, Soto said countries with trade disputes should seek resolution through international organizations rather than putting tariffs.

"The result of tariff does not lead to healthy market, does not lead to profit. We need those issues to be addressed in the international trade organizations," he said.

"We are committed to having a solution on the steel and aluminum tariffs. We will be able to stop the (U.S.) tariff on the Mexico sector and at the same time to withdraw our retaliatory measures," he said.

With the theme of "Supply Chains in the New Global Reality," this year's symposium focused on the impact of rapidly changing political climate on the international trade, transportation, and manufacturing sectors for both the short and long term.

Around 200 politicians, businessmen and scholars from the U.S., Mexico and Canada attended the two-day symposium.