April 08, 2025
Mexican President Claudia Sheinbaum stated on Monday that her government aims to avoid imposing tariffs on the United States in response to President Donald Trump’s extensive tariff plans, although she acknowledged that such measures could not be entirely ruled out.
Mexico, which sends nearly 80% of its exports to the United States, was not included in Trump’s recent announcement of global, across-the-board tariffs on various nations, a development Sheinbaum praised as a significant achievement. However, Mexico remains subject to Trump’s previously imposed tariffs of 25% on steel, aluminum, and automobiles, as well as on goods that do not comply with the regional USMCA trade pact.
“As much as possible, we would like to avoid imposing reciprocal tariffs,” Sheinbaum remarked during a morning press conference. She added that Economy Minister Marcelo Ebrard would travel to Washington to meet with U.S. officials, as he has done in recent weeks.
Sheinbaum noted that imposing a retaliatory tariff of 25% on U.S. steel and aluminum shipments “would lead to price increases in Mexico.” “We aren’t ruling it out, but we prefer to continue with dialogue,” she added.
Mexican officials have argued that U.S. steel and aluminum tariffs are unjustified, pointing out that Mexico imports more in these sectors from the U.S. than it exports to the U.S. By mid-morning on Monday, the nation’s peso and main stock index had weakened by more than 1%, part of a global market downturn as Trump threatened to further increase tariffs on China.
Source: (Reuters)
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