Claudia Sheinbaum, President of Mexico Photo: Carlos Santiago / Zuma Press
Mexican President Claudia Sheinbaum has said that the country has no plans to impose mirror duties in response to new trade restrictions that US President Donald Trump is preparing to announce. This was reported by Reuters.
Trump declared Wednesday “Liberation Day” for the United States and announced the introduction of new tariffs, which could trigger another escalation of trade confrontation with key partners, including Mexico and Canada. Such measures are expected to lead to higher prices and tensions on international markets.
Responding to possible challenges, President Sheinbaum said during a press conference on Thursday that Mexico is preparing a “comprehensive economic programme” instead of symmetrical tariff measures.
“We will see what decision the US will make, but our strategy is aimed at strengthening the economy in any circumstances,” she said.
Details of the new US tariffs will be announced by Trump at 23:00 Kyiv time. It is expected that they could have a significant impact on global financial markets and cause a negative reaction among large international corporations and economists.
According to Trump, the reasons for the new duties include returning production to the US, combating “unfair” trade policies of other countries, increasing government revenues, and combating illegal migration and drug trafficking.
