MEXICO CITY — Mexican President Claudia Sheinbaum on Monday said her government is focused on resolving trade tensions with the United States through dialogue rather than retaliation — though imposing tariffs on American goods isn’t off the table.
Trump’s Tariff Plans Spark Concern
Last week, former U.S. President Donald Trump announced sweeping global tariffs, sparking concern among trade partners. Although Mexico was excluded from the new list, Sheinbaum acknowledged that existing U.S. tariffs—25% on steel, aluminum, automobiles, and goods outside the USMCA agreement—continue to affect the country.
![](data:image/svg+xml;charset=utf-8,<svg height="1080px" width="1920px" xmlns="http://www.w3.org/2000/svg" version="1.1"/>)
“As much as possible, we would like to avoid imposing reciprocal tariffs,” Sheinbaum said at a morning press conference.
However, she warned that Mexico could consider a 25% retaliatory tariff on U.S. steel and aluminum if talks don’t progress.
Economy Minister Heads to Washington
To ease tensions, Economy Minister Marcelo Ebrard will travel to Washington, D.C. to continue diplomatic efforts with U.S. officials. Sheinbaum stressed that while retaliation remains a possibility, Mexico’s priority is to prevent inflation and protect its economy.
“We aren’t ruling it out, but we prefer to continue with dialogue,” she added.
Tariffs Could Backfire on Mexico
Mexican officials argue that the U.S. tariffs are unfair, as Mexico imports more steel and aluminum from the U.S. than it exports. Retaliatory action, they caution, could drive up prices domestically and hurt consumers.
Meanwhile, financial markets reacted sharply to the ongoing trade uncertainty. On Monday morning, Mexico’s peso and stock index dropped more than 1%, mirroring global losses as Trump also threatened additional tariffs on China.
