Mexico Prepares to Face the New Trade Policy from the U.S.
The Secretary of Economy, Marcelo Ebrard, emphasized the importance of making decisions with determination and caution in light of the trade policy from the United States and its imminent announcement of tariffs on April 2nd. He clarified that discussions with the neighboring country are ongoing daily, and negotiations will continue until favorable conditions for Mexico are achieved, aiming to secure better deals than those offered to other nations concerning Donald Trump’s tariff decisions.
“Everyone is eagerly awaiting what will be announced on April 2nd, and we are heading toward something different, although the details are still uncertain,” Ebrard commented. He noted that the intervention of President Claudia Sheinbaum has been crucial in maintaining the trade relationship with the United States. According to Ebrard, without this intervention, all Mexican exports would face a 25% tariff, which would have a severe impact on the country's economy. The U.S. government had imposed a general tariff on steel and aluminum, a measure that will affect industries closely tied to the U.S., such as steel production and automotive, among others. Ebrard highlighted that the economic interdependence between Mexico and the United States is the strongest in the world, even greater than what Mexico has with Canada. In response to this issue, Mexico will start consulting with the affected industries and will develop an action plan that will be defined based on what the U.S. administration announces on April 2nd. The Mexican government's strategy will focus on protecting local businesses and jobs, implementing all necessary mechanisms to safeguard their interests. “So we will act cautiously; the instruction is to be firm and to seek the best position for Mexico compared to any other country. That’s the directive I’ve been given.”
In a context of trade changes, it’s essential for Mexico not only to defend its economy but also to seek diversification and innovation in key sectors. Relying too heavily on a single market, like the U.S., can be risky. Diversifying exports and creating strategic alliances with other countries, as well as improving domestic productivity, are crucial steps to strengthen the national economy and reduce vulnerabilities to external decisions.
