President Claudia Sheinbaum of Mexico threatened to respond on Wednesday if U.S. President-elect Donald Trump implemented his planned 25% universal tariff, which her government said might result in the loss of 400,000 American jobs and raise prices for American consumers.
“If there are US tariffs, Mexico would also raise tariffs,” Sheinbaum stated at a news conference. This was the most explicit indication to date that the nation was planning potential trade retaliation against its largest trading partner. Speaking with Sheinbaum, Mexican Economy Minister Marcelo Ebrard advocated for more regional integration and cooperation rather than a war of retaliatory import levies.
Later, Sheinbaum replied on X that during her talk with Trump, she had outlined Mexico’s migration policy, which “attended to” people before they reached the US-Mexico border.
“Mexico’s stance is not to close borders, but to build bridges between governments and their peoples,” she stated. Mexico’s peso recovered losses from the previous days by strengthening by about 1% against the dollar in Wednesday’s after-hours trading. Many observers see Trump’s tariff threats as more of a bargaining ploy than a trade policy move.
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