FX.co ★ Mexico Targets China, Others with Possible Tariffs

Mexican President Claudia Sheinbaum announced on Thursday that her administration is evaluating implementing tariffs on imports from countries with which Mexico does not have trade agreements, particularly China. These proposed tariffs are part of "Plan Mexico," a comprehensive strategy designed to bolster the domestic industry in response to the tariffs on Mexican goods imposed by former U.S. President Donald Trump. "We are considering imposing certain tariffs," Sheinbaum stated, highlighting that the focus would be on countries lacking formal trade agreements with Mexico. However, she did not specify which sectors or products might be affected. Mexico continues to be a member of the United States-Mexico-Canada Agreement (USMCA), which succeeded NAFTA in 2020 and requires a three-way review every six years. This development suggests a potential shift in Mexico’s trade strategies amid escalating tensions and adjustments in the supply chain.