Mexican economic secretary has said his country could reciprocate Trump's tariffs
Mexico could reciprocate if US President-elect Donald Trump follows through on his campaign proposal to impose a generalized 25% tariff on imports of Mexican products when he takes up his second term, Economy Secretary Marcelo Ebrard said earlier this month before Trump reiterated that promise on Monday.
“If you apply a 25% tariff to me, I have to react with tariffs, and I am your main importer, along with Canada,” he told Radio Fórmula on November 11.
Ebrard’s comments came two weeks before Trump’s latest social media post promising to implement steep tariffs on Mexico, Canada and China. But his promise was consistent with policies Trump vowed to implement while he was a candidate. During his campaign, Trump said that if elected president, he would impose 25% tariffs on products imported from Mexico if his government failed to stem the flow of “criminals and drugs” entering the country.
Ebrard added at the time that this decision would have “a huge cost for the (United States) economy,” first of all in inflation.
Earlier this month, Mexican President Claudia Sheinbaum said that work was already being done to demonstrate the importance for the United States of the trade agreement it has with Mexico and Canada, and she was confident that high-level dialogues would continue on issues such as migration, drug and arms trafficking, as well as the trade relationship.
Sheinbaum is expected to address reporters later Tuesday.
Key context: Mexico is the second-largest supplier to the United States. Imports from Mexico totaled almost $455 billion in 2022, according to the Office of the US Trade Representative. Among the products purchased are vehicles, fruits, vegetables and electrical equipment.
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