Mexico prepares response to US tariffs

Mexican President Claudia Sheinbaum said on Tuesday that Mexico would respond to the 25% tariffs imposed by the United States with its own countermeasures. She promised to announce the list of American goods that would be subject to the new tariffs on Sunday during a public event in Mexico City’s central plaza. The move could signal that Mexico is still hoping to avoid further escalation in the trade war started by U.S. President Donald Trump. Unlike China and Canada, Mexico decided to wait until Sunday to respond, despite having signaled its readiness for such a move in January. Meanwhile, Canada announced its intention to impose tariffs on more than $100 billion worth of American goods within 21 days. The move comes in response to Trump’s decision to impose a 25% tariff on imports from Canada and Mexico and a 10% tariff on Canadian energy products starting Tuesday.

Sheinbaum has sharply criticized White House claims that Mexico has been doing nothing about drug trafficking. She called the allegations “insulting, defamatory and baseless,” noting her administration’s record on drug trafficking. Mexico recently extradited 29 drug suspects to the United States and seized more than a ton of fentanyl, she said. Sheinbaum also called on the United States to take responsibility for its own opioid addiction crisis.

In response to the U.S. tariffs, China has also announced additional tariffs of up to 15% on key U.S. agricultural products, including chicken, pork, soybeans and beef. China’s new tariffs will take effect on March 10. This was in response to Trump’s decision to raise tariffs on Chinese goods to 20%, which came into effect at the same time as tariffs on imports from Canada and Mexico.

Sheinbaum stressed that the introduction of the corresponding duties is not aimed at escalating an economic or trade war. She emphasized that the new tariffs will harm not only Mexican businesses, but also citizens and businesses in the United States due to the increase in prices for goods from Mexico. According to her, these measures will also negatively affect job creation in both countries.

Experts fear that the escalation of the tariff war between the United States, Mexico and China will lead to significant economic losses in the agricultural sector. Already, American farmers are concerned about the prospects of further declines in prices for soybeans and other products due to possible mirror measures by key US trading partners.

Tags: agricultural products, USA, Mexico