On March 4, 2025, President Claudia Sheinbaum of Mexico announced her government's response to the newly imposed 25% tariffs on Mexican goods by U.S. President Donald Trump. She stated, "No one wins with this decision," emphasizing the damage this trade dispute could cause to both nations.
Sheinbaum made her announcement during her daily press conference, asserting, "There is no reason, rationale, or justification for this decision." This declaration reflects her discontent with Trump's unilateral action, which targets not only Mexico but Canada as well.
After months of negotiations and temporary pauses, Trump's administration implemented the tariffs after stating, on March 3, 2025, there was no margin for Mexico or Canada. The imposition of tariffs has reignited economic tensions and intensified discussions around the sustainability of the trade agreements between the North American neighbors.
The Mexican president announced she would discuss retaliatory tariff measures during her public address, stating Mexico plans to respond with both tariff and non-tariff actions, expected to take effect starting March 9, 2025. She encouraged the Mexican populace to unite, inviting them to rally at the Zócalo—the main square—in Mexico City on the upcoming Sunday.
Sheinbaum noted, "This will affect both countries, but more Americans due to consumer price increases." Highlighting the intertwined economic relationship, she remarked, "Around 80% of Mexico's exports go to the United States," expressing concerns about the potential repercussions for American consumers as tariffs lead to higher prices.
During the conference, Sheinbaum reported the progress made by Mexico against organized crime, including significant efforts to combat drug trafficking. Notably, the U.S. Customs and Border Protection reported seizures of fentanyl from Mexico have reduced by 50% between October 2024 and January 2025. She highlighted these measures to argue against the notion of Mexican complicity and irresponsibility concerning the opioid crisis affecting the U.S.
She continued with her criticism of the tariffs, labeling the White House’s statements as "offensive, defamatory, and unsubstantiated". While addressing the alleged justification for the tariffs based on the fentanyl crisis, Sheinbaum said, "The fentanyl argument is baseless, especially considering what we've done," insisting on shared accountability over the crisis.
She emphasized the collaborative efforts both countries have previously undertaken, which have led to substantial agreements concerning trade and security. "We’ve seen effective measures reducing organized crime, but unilateral tariffs undermine these efforts and hurt our populations," she noted.
The Mexican economy, heavily reliant on its trade relationship with the U.S., is once again facing uncertainty following the announcement. The Mexican stock market experienced declines as tariffs took effect, with the dollar reaching near 21 pesos, indicating concerns over economic stability. Sheinbaum’s government has been criticized for its reliance on the U.S. market and will need to adapt to these new trade realities.
Analysts predict various impacts on both economies, with many expressing concern for how this will affect consumer markets. The president urged her constituents to view the situation as one requiring unity and resilience to withstand the economic pressure. "It’s time to rally for Mexico's sovereignty; we must remain calm and strategic," she stated invoking national pride.
If no agreement is reached following her upcoming call with Trump, Sheinbaum confirmed retaliatory measures would be swiftly implemented as Mexico prepares to defend its economic interests. "We will also have to respond," she declared, reflecting the determination of her administration to avoid falling victim to unfair trade practices.
Uncertainties loom between the United States and Mexico, particularly concerning their partnerships on the contentious issues of drug trafficking and migration. Sheinbaum's government is under pressure to strengthen its position, arguing the need for cooperation without subordination. She encapsulated this sentiment saying, "The subject is how we can coordinate without being subordinate for the benefit of our peoples."
The economic relationship between Mexico and the U.S. will continue to navigate through this complex and contentious period as both nations grapple with the consequences of these tariffs and the pending discussions between their respective leaders.