US President Donald Trump’s recent implementation of new tariffs on key trade partners Canada, Mexico, and the Chinese mainland has sparked significant concerns among global officials and economists. These tariffs are expected to increase living costs in the United States while straining the nation’s trade relations with other countries.
Mexico Condemns the US Tariffs
Mexican Economy Minister Marcelo Ebrard expressed his strong opposition on the social media platform X, calling Trump’s executive order an \"absurd, illegal abuse of power\". Ebrard emphasized that imposing a 25 percent tariff on Mexican goods is a \"flagrant violation\" of the United States-Mexico-Canada Agreement (USMCA), ultimately harming the US economy itself.
Mexican lawmaker Ricardo Monreal echoed these sentiments, denouncing the tariffs as one of the most severe economic attacks since Mexico's independence. He highlighted that such a large-scale, unilateral decision damages Mexico's economy, infringes on its sovereignty, and directly harms its residents.
Furthermore, Ignacio Martinez, an international affairs expert at the National Autonomous University of Mexico, warned that the tariffs would disproportionately impact Mexico’s manufacturing and export-driven regions, particularly in the central and northern areas. Martinez also pointed out that the southern region could face economic hardships due to a potential decrease in remittances from Mexican migrants in the US, leading to weakened purchasing power and exacerbated poverty.
The escalating trade tensions underline the interconnectedness of global economies and the far-reaching consequences of protectionist policies. As countries navigate these challenges, the emphasis on maintaining strong and cooperative international trade relationships becomes increasingly critical.
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Officials and economists warn of increased costs from US tariffs
cgtn.com
