Mexico Announces Retaliatory Tariffs Against US... Item List to be Revealed on the 9th

"Trump Administration's '25% Tariff' Has No Justification"

The Mexican government has announced retaliatory tariffs on US products in response to the Donald Trump administration's 25% tariff on Mexican products.

On the 4th (local time), President Claudia Sheinbaum said during a regular press conference, "We will respond to the US decision with tariff and non-tariff measures," adding, "I will announce the specific tariff items through a public address at Zócalo Square in front of the Presidential Palace on the 9th."

President Sheinbaum strongly criticized the US tariff imposition, saying, "There is no justification for the Trump administration's decision." She pointed out, "It's unimaginable that they are not considering the damage that will be caused to both American citizens and businesses due to rising prices of goods in the US," adding, "No one benefits from Trump's decision."

However, the Mexican president stated, "We have absolutely no intention of waging a trade war." Foreign media interpreted this statement as a willingness to continue negotiations.

The US began applying a 25% rate to Mexico and Canada, and a 10%+10% rate to China from 12:01 AM today. Canada and China have already decided to impose retaliatory tariffs in response.

The Mexican stock market continued to decline today following yesterday afternoon's downturn. The peso exchange rate also depreciated by about 1% compared to the dollar from the previous day.

Reporter Lee Hye-in hey@hankyung.com