In a bid to ease trade tension, Mexico is favoring dialogue with US officials before resorting to tit-for-tat tariffs. At a recent press conference, President Claudia Sheinbaum noted that although Mexico hasn’t ruled out a 25% tariff increase if needed, the preferred path is open conversation 🤝 to avoid price hikes that could hit both companies and consumers.
Economy Minister Marcelo Ebrard will head to Washington D.C. this week to continue talks, underscoring Mexico's commitment to protect its industries. The National Chamber of the Iron and Steel Industry has warned that new tariffs might sharply impact steel exports, a move that could ripple through global trade and affect everyday products—from the tech gadgets we love to the essentials we depend on.
On the US side, a recent executive order has rolled out “reciprocal tariffs,” imposing a 10% minimum baseline and a 25% tariff on certain non-USMCA compliant goods, while products meeting USMCA standards remain tariff-free. This development is a wake-up call in a fast-paced global economy where trade policies directly influence market dynamics and daily life.
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Mexico to pursue dialogue with U.S. before reciprocal tariffs
cgtn.com
