Posted: Monday, February 3, 2025. 9:29 am CST.
By Zoila Palma: On Saturday, Mexican President Claudia Sheinbaum announced that Mexico will impose retaliatory tariffs in response to the United States’ decision to levy 25 percent tariffs on all goods from Mexico, Reuters reports.
Sheinbaum emphasized the country’s desire for dialogue, but said Mexico had no choice but to defend its interests.
In a post on X, she instructed her economy minister to activate “Plan B,” which includes both tariff and non-tariff measures. However, Sheinbaum did not specify which U.S. goods would be targeted.
The U.S. and Mexico share a highly integrated trade relationship, with significant exchanges in agriculture, energy, and the auto industry. Mexico is the top destination for U.S. exports, surpassing China in 2023.
Reports suggest possible retaliatory tariffs ranging from five to 20 percent on U.S. products like pork, cheese, and fresh produce, with the auto industry exempt for now. Economy Minister Marcelo Ebrard called the U.S. tariffs a “flagrant violation” of the USMCA and vowed, “Plan B is underway.”
The tariffs could hurt Mexico’s economy, with experts estimating a 12 percent drop in exports and a potential 4 percent GDP decline if the tariffs persist.
Sheinbaum also rejected U.S. claims that Mexican cartels are linked to the government, calling them “slander” and highlighting her administration’s efforts to combat fentanyl trafficking.
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The post International News: Mexico to retaliate against American tariffs, details pending appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Monday, February 3, 2025. 9:29 am CST. By Zoila Palma: On Saturday, Mexican President Claudia Sheinbaum announced that Mexico will impose retaliatory tariffs in response
The post International News: Mexico to retaliate against American tariffs, details pending appeared first on Belize News and Opinion on www.breakingbelizenews.com.
