Economic reports and analyses from trade organizations

Sheinbaum Rejects Trump's 25% Tariff Threats, Warns of Retaliation

Nov 26, 2024, 01:45 PM

Mexican President Claudia Sheinbaum has sent a letter to U.S. President-elect Donald Trump in response to his renewed threats to impose radical tariffs of 25% on Mexico and other countries. In the letter, Sheinbaum rejects the tariff threats and asserts that it is not through threats or tariffs that issues such as migration and drug consumption in the United States will be addressed. She emphasizes that the economic strength of North America is based on maintaining their trade partnership and warns that tariffs would provoke inflation and job losses in both countries. She cautions that a tariff would be met with another in response, putting common businesses at risk. She also highlights that while the U.S. consumes drugs, Mexico suffers the casualties.