and
Mexico will retaliate against tariffs imposed by US President Donald Trump with tariffs and other measures of its own, President Claudia Sheinbaum has announced.
Sheinbaum said on Saturday that she had ordered her economy minister to implement tariff and non-tariff measures to defend her country’s interests, after the US slapped across-the-board duties on goods coming from Mexico.
In a lengthy social media post, Sheinbaum stressed that her government did not seek confrontation with its northern neighbour but collaboration and dialogue.
She said she had told her economy minister “to implement Plan B that we have been working on, which includes tariff and non-tariff measures in defence of Mexico’s interests”.
The United States is by far Mexico’s most important foreign market, while Mexico in 2023 overtook China to become the top destination for US exports.
Mexico has been preparing possible retaliatory tariffs against imports from the US, ranging from 5 per cent to 20 per cent, on pork, cheese, fresh produce, as well as manufactured steel and aluminium, according to sources familiar with the matter. The auto industry would initially be exempt, they told Reuters.