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.

» Published: November 27 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.

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By TTThis article has been altered and translated by Sweden Herald

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