President of Mexico says country will respond to tariffs imposed by President Trump
JUAREZ, Chihuahua (KVIA) -- Mexico's President Claudia Sheinbaum spoke on the now imposed 25% tariffs on all goods exported from Mexico to the U.S., saying President Trump's decision was unilateral and rejected that Mexico has failed in combating drug trafficking and illegal immigration.
"While President Trump gave both Canada and Mexico ample opportunity to curb the dangerous cartel activity and influx of lethal drugs flowing into our country, they have failed to adequately address the situation," the White House said in a statement.
During her daily news conference, President Sheinbaum condemned the U.S. for not considering the impact of tariffs, which will lead to higher product prices and slow job creation.
"I want to make it clear today that we will always seek a negotiated solution, as we have proposed, within the framework of respect for our sovereignty. But the unilateral decision taken by the United States affects national and foreign companies that operate in our country and affects our people. For this reason, we have decided to respond with tariff and non-tariff measures that I will announce in public next Sunday," President Sheinbaum said.
"It is not in any way the purpose to start an economic or commercial confrontation, which unfortunately and regrettably is the opposite of what we should be doing, that is, to further integrate our economies to strengthen our region in the face of the economic and commercial progress of other regions," Sheinbaum added.
Mexico reported the top U.S. exports to Mexico in 2022 include:
- Petroleum & Coal Products - $40.7 billion
- Motor Vehicle Parts - $21.1 billion
- Semiconductors - $18.6 billion
- Electrical Equipment & Components - $16.9 billion
- Oil & Gas - $$15.2 billion
The top U.S. imports from Mexico in 2022 include:
- Motor Vehicles - $71.9 billion
- Motor Vehicle Parts - $59 billion
- Computer equipment - $37.7 billion
- Electrical Equipment & Components - $29.5 billion
- Oil & Gas - $20.7 billion
ABC-7 spoke with the president of the Border Business Block (BEF), Jesús Manuel "Thor" Salayandía, who said that right now, business, cargo transportation, and maquiladora leaders are uncertain and concerned because they don't know how the tariffs are going to be imposed.
"La información que tenemos hasta ahorita es que hay mucho desconocimiento, hay muchas interrogantes, hay muchas confusions," Salayandía said.
He also said they are currently analyzing the impact and checking how much industry costs could go up and the products that will be charged with this extra 25% tariff..
"As long as they (maquiladoras and industries) don't know the impact, the real impact of the cost, only then will they begin to move forward, make decisions, and the economy will advance a little more," Salayandía added.
