The European Union and Mexico secured a fresh trade deal on ahead of U.S. President-elect Donald Trump, who has threatened both regions with steep tariffs on exports, taking office next week.

Mexico and the European Union are announcing a revamped agreement that they said would boost trade and investment, amid Trump's tariff threats.

The EU has concluded negotiations with Mexico on an updated trade agreement, the European Commission announced in a press release on Friday. Mexico is the EU's second largest trading partner in Latin America after Brazil.

Ursula von der Leyen casts Europe as an economic heavyweight that can forge new alliances during another “America First” presidency.

EU, GERMAN and Chinese leaders took turns defending global cooperation in Davos on Tuesday as the spectre of new trade wars looms following Donald Trump’s return to the White House. Read more at The Business Times.

The European Union and Mexico reignited a stalled upgrade to their free trade deal on Friday, just days before the return to office of U.S. President-elect Donald Trump, who has threatened both sides with tariffs.

In contrast, trade between Mexico and the European Union reached $84 billion in the same year, according to the EU. Gabriela Siller, director of economic analysis of the local financial group ...

Von der Leyen insisted that the United States remains an important partner, taking a conciliatory tone in a speech to the annual meeting of global elites in Davos, Switzerland. The EU's "first priority will be to engage early, discuss common interests, and be ready to negotiate" with Trump, she said.

The EU announced an agreement Friday with Mexico to strengthen their trade relations, three days before the inauguration of incoming US president Donald Trump, who has threatened both with tariffs.

EU chief Ursula von der Leyen declared Tuesday that Europe was ready to negotiate with the United States and seek to improve ties with China as Beijing warned against damaging trade wars in the face of Donald Trump's protectionism.