Mexican President Claudia Sheinbaum expressed her disapproval on Tuesday regarding U.S. President Donald Trump’s imposition of a 25% tariff on Mexican imports, stating that her administration would retaliate with its own actions, though specific details were not provided immediately.
Trump’s sweeping tariffs, which were enacted overnight, signify a significant change in over three decades of economic cooperation between Mexico and the U.S., potentially leading to serious consequences for the second-largest economy in Latin America.
Mexico and the United States are key trading partners, with crucial industries such as automotive benefiting from the seamless trade encouraged by their trilateral agreement that also involves Canada.
Sheinbaum remarked during her morning press briefing, “There is no reason, rationale or justification to support this decision that will impact our people and nations … Nobody wins.”
She disclosed plans to reveal the specifics of Mexico’s response, including possible retaliatory tariffs, during an event at the renowned Zocalo square in the capital on Sunday.
Sheinbaum mentioned that she would be in contact with Trump this week, “likely on Thursday.”
The peso of Mexico fell in value by around 1% against the dollar on Tuesday morning, and the nation’s primary stock market experienced a decline of over 1%.
Sheinbaum pointed out that U.S. consumers and businesses would face higher prices on goods imported from Mexico, stating that the automotive sector would encounter “the most challenges.”
Analysts project that the tariffs could lead to billions of dollars in additional expenses for automakers that manufacture their vehicles entirely or partially in Mexico. The Mexican government has previously disclosed data indicating that most of the pickup trucks sold in the U.S., which are favored by Trump supporters, are produced in Mexico.
After taking a month to make his decision, Trump announced on Monday that the tariffs would be implemented because Mexico, like Canada and China, had not done enough to stop the influx of the lethal fentanyl opioid and its precursor chemicals into the U.S.
Sheinbaum asserted that Mexico had implemented “decisive actions” during the past 30 days to reduce the flow of fentanyl into the United States.
In recent weeks, Mexico has sent thousands of soldiers to key areas along the U.S. border and has extradited nearly 30 imprisoned individuals and others accused of connections to violent drug trafficking organizations.
