SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Mexico threatens retaliation against Trump's tariffs

Mexico's President Claudia Sheinbaum hints that Mexico may respond to Donald Trump's threats of punitive tariffs with its own fees and warns of the consequences.

» Updated: 27 November 2024, 03:29

» Published: 27 November 2024

Mexico threatens retaliation against Trump's tariffs
Photo: Fernando Llano/AP/TT

A tariff will be followed by another in response, and so on until we put the survival of ordinary companies at stake, says Sheinbaum at a press conference in Mexico City.

Sheinbaum, who read out parts of a letter she intends to send to Trump, appealed for cooperation instead of hostility.

The largest exporters from Mexico to the USA are General Motors, Stellantis, and Ford, which came 80 years ago. Why introduce a tariff that puts them at risk?

The move comes after the US president-elect said that he will make a decision on tariffs of 25 percent on all goods from Mexico and Canada on his first day in the White House.

During the night to Tuesday, Trump also said that he intends to impose an additional fee of 10 percent on all goods from China.

"No one will win a trade war or a tariff war," replied a spokesperson for China's embassy in Washington.

According to Trump, the punitive tariffs against the three countries will remain in place until they ensure that they stop the illegal flow of narcotics to the USA, as well as prevent undocumented migrants from crossing the border.

International cooperation is urgent, said Sheinbaum, who also pointed out Asian countries as the source of the ingredients used in the production of the deadly synthetic opioid fentanyl.

The Mexican peso fell by more than 2 percent after Trump's threats.

Tags
TTT
By TTThis article has been altered and translated by Sweden Herald

More news

New law can get more to bind mortgage interest: "Positive"
2 MIN READ

New law can get more to bind mortgage interest: "Positive"

Open AI opens up for ads in Chat GPT – going forward
1 MIN READ

Open AI opens up for ads in Chat GPT – going forward

After Trump's victory: Small investors bet on crypto
2 MIN READ

After Trump's victory: Small investors bet on crypto

Most Upwards on Wall Street
1 MIN READ

Most Upwards on Wall Street

The Norwegian Oil Fund Exceeds a New Milestone
1 MIN READ

The Norwegian Oil Fund Exceeds a New Milestone

The "Indiana Jones" game is set to become a success
3 MIN READ

The "Indiana Jones" game is set to become a success

Setback for Tiktok – may be banned in the USA
1 MIN READ

Setback for Tiktok – may be banned in the USA

Northvolt founder bets on new industrial project
1 MIN READ

Northvolt founder bets on new industrial project

USA: Employment picks up again
1 MIN READ

USA: Employment picks up again

Agreement with South America finalized – worrying Europe's farmers
2 MIN READ

Agreement with South America finalized – worrying Europe's farmers

Authority warns of Norwegian housing price rally
1 MIN READ

Authority warns of Norwegian housing price rally

Central Bank Chief: Can Continue to Lower Interest Rate
1 MIN READ

Central Bank Chief: Can Continue to Lower Interest Rate

Social Democrats' demands on the government: Present AI strategy now
1 MIN READ

Social Democrats' demands on the government: Present AI strategy now

New Chairman at Mellby Gård – the Son Takes Over
1 MIN READ

New Chairman at Mellby Gård – the Son Takes Over

Major Shareholder Wants to Buy Out Others from XXL
1 MIN READ

Major Shareholder Wants to Buy Out Others from XXL

No one wants to build Danish offshore wind power
1 MIN READ

No one wants to build Danish offshore wind power

So much did the mortgage rates fall in November
1 MIN READ

So much did the mortgage rates fall in November

State surplus lower than forecast
1 MIN READ

State surplus lower than forecast

Over a hundred flights cancelled due to bad weather
1 MIN READ

Over a hundred flights cancelled due to bad weather

Serbia wants to extend Russian gas agreement
1 MIN READ

Serbia wants to extend Russian gas agreement