Mexico President Claudia Sheinbaum said on Wednesday she does not believe that the United States will impose tariffs next Saturday, as promised by President Donald Trump, but said his government has its own prepared response plan if necessary.
The statement was made after the White House reiterated the idea of applying 25% rates against Mexico and Canada. Trump has promised to impose rates if the two neighbors no longer do to control immigration and drug flow through their borders shared with the United States.
“We don’t think this will happen,” Sheinbaum said in his morning -in -law press conference. “And if it happens, we also have our plan.”
In the case that Mexico considers unlikely that the US implements tariffs against its largest commercial partner on February 1, Mexico is prepared to impose retaliatory tariffs on the United States, according to two sources with knowledge of the subject.
Retaliatory tariffs would initially exempt the automotive industry, the sources said, saving what became the most important manufacturing sector in Mexico and is closely integrated into the United States.
“Mexico is ready to apply 5%, 10%, 20%retaliatory rates,” said one of the sources, a Mexican government authority.
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“However, we are still in constant dialogue because the effects would reach the two countries and jobs on both sides of the border would be endangered,” the sources added.
