*Mexico and the European Union (EU) have finalised negotiations regarding a modernised trade agreement which dates back to 2000. According to an EU press release, the agreement puts into place a framework to “deepen and widen EU-Mexico political dialogue, cooperation, and economic relations”. According to the same source, it will “create new economic opportunities for both sides, including growth potential for EU agri-food exports to Mexico, while promoting shared values and progressive rules on sustainable development”. Among other things it will: lift non-tariff barriers such as Mexican restrictions on EU food products; safeguard European intellectual property in Mexico; reduce tariffs on more products – mainly agricultural goods; and protect more Geographical Indications (GIs) – distinctive food and drink products from specific regions in the EU. According to the EU press release, EU-Mexico trade in goods reached €82bn (US$85bn) in 2023, while two-way trade in services reached €22bn in 2022, making Mexico the EU’s second-biggest trading partner in Latin America. The EU and Mexico, which started the negotiations for a new, modernised global agreement in May 2016, were no doubt spurred on to finalise the deal by the prospect of the new US administration led by Donald Trump, who has threatened both with new tariffs. The EU press release notes that subject to final legal revision, the EU and Mexico will “now proceed with their respective procedures for conclusion and ratification”.