In a bid to safeguard its economy, Mexico is choosing dialogue over immediate retaliatory measures amid rising trade tensions. Mexican President Claudia Sheinbaum emphasized that protecting Mexican industry remains a top priority, even as the nation did not rule out the possibility of applying a 25 percent tariff if necessary. However, the government prefers to engage in discussions rather than escalate tariffs that could lead to higher consumer prices.
Mexican Economy Minister Marcelo Ebrard is set to travel to Washington D.C. this week to continue talks with the U.S. government. This meeting comes as part of a broader effort to navigate the complex trade landscape recently altered by a series of U.S. tariff measures. Under the current framework, goods compliant with the United States-Mexico-Canada Agreement (USMCA) remain untaxed, while non-compliant products face steep rates.
Industry stakeholders, including the National Chamber of the Iron and Steel Industry, have raised concerns that the new levies could significantly impact Mexican steel exports. The unfolding situation highlights how essential open dialogue is for preserving market stability and fostering sustainable economic growth in an increasingly interconnected world.
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Mexico to pursue dialogue with U.S. before reciprocal tariffs
cgtn.com
