Mexico is considering potential retaliatory measures if US President-elect Donald Trump proceeds with his proposal to impose a 25% tariff on Mexican imports during his upcoming term. Economy Secretary Marcelo Ebrard expressed this stance in response to Trump's campaign promise, which he reiterated recently.
Ebrard emphasized that if the US enforces a 25% tariff on Mexican goods, Mexico would be compelled to reciprocate with tariffs. He highlighted Mexico's significant role as a major importer for the US, alongside Canada.
Trump's latest social media announcement reaffirmed his intention to impose substantial tariffs on Mexico, Canada, and China. This aligns with his earlier campaign pledge to levy tariffs on Mexican imports if his administration failed to address issues related to border security.
Ebrard warned that such a decision would have severe economic repercussions for the US, particularly in terms of inflation. Mexican President Claudia Sheinbaum also underscored ongoing efforts to underscore the importance of the trade agreement between the US, Mexico, and Canada. She expressed confidence in continuing high-level discussions on various critical issues, including migration, drug trafficking, arms smuggling, and trade relations.
It is crucial to note that Mexico is the second-largest supplier to the United States, with imports from Mexico amounting to nearly $455 billion in 2022, as reported by the Office of the US Trade Representative. The imported products encompass a wide range, including vehicles, fruits, vegetables, and electrical equipment.
