Why it matters:
Analysts warn the new tariffs could drive up costs for U.S. consumers and businesses, increasing prices on imported goods from Mexico, Canada, and China. Meanwhile, Mexico's hardline stance signals growing tensions between the two neighbors.
Key points:
- The statement comes in response to the U.S.'s recent imposition of a 25% tariff on Mexican goods.
- The tariffs, part of broader U.S. trade moves, also include a 10% tariff on Chinese imports and similar levies on Canadian goods. Mexico has pledged to retaliate through both tariff and non-tariff measures.
- President Sheinbaum instructed Economy Minister Marcelo Ebrard to implement an "alternative plan" to safeguard Mexican economic interests.
What they are saying:
Ebrard, communicating on X (formerly Twitter), condemned Trump's tariffs as a "flagrant violation" of the US-Mexico-Canada agreement and declared, "Plan B is underway. We will prevail."
Sheinbaum: "Mexico's sovereignty and territorial integrity are non-negotiable."
Ebrard: "The tariffs are an affront to free trade principles and a direct challenge to our national interests."
The big picture:
