The Mexican government, facing the so-called 'Trump tariffs' threat, announced that it is attempting to make contact with the incoming U.S. President-elect Donald Trump, who is set to take office in January next year. Earlier, Mexico, which had announced plans for retaliatory tariffs, also warned that if the 25% tariff threat is carried out, it would be like the U.S. "shooting itself in the foot."
According to AFP and other news agencies, Claudia Sheinbaum, the President of Mexico, said at a press conference on the 27th (local time) that she recently sent a letter proposing a meeting with President-elect Trump. She explained, "We expect to be able to talk with Trump soon," adding, "At the very least, we anticipate having an opportunity to meet with a delegation from our government before January 20th, the day Trump takes office." She also mentioned that she would use the occasion to convey Mexico's position.
Previously, President-elect Trump criticized Mexico and Canada for inadequate measures against illegal immigration and drugs, and stated that he would sign executive orders on his inauguration day, January 20th next year, imposing 25% tariffs on both countries. In response, Mexico immediately protested and announced plans for retaliatory tariffs.
On the same day, the Mexican government reaffirmed its stance on retaliatory measures. President Sheinbaum criticized, "(Trump's tariff threat) is an unacceptable threat." Marcelo Ebrard, Minister of Economy, who accompanied the president at the press conference, emphasized, "The impact of this measure (tariffs) will primarily affect American consumers," and "That is why we say the tariffs are like 'shooting oneself in the foot'." He pointed out that the costs American companies would have to bear due to tariffs on Mexican imports are "enormous." Furthermore, citing research based on figures from U.S. automakers such as General Motors (GM), which produce cars in Mexico, he claimed, "About 400,000 jobs in the U.S. will disappear."
According to the Mexican Automotive Association, approximately 3.8 million vehicles are produced annually in Mexico, of which 90% are for export. It is also understood that 80% of these exports are destined for the United States. In terms of sales revenue by company, the top three are American companies GM, Stellantis, and Ford. This also explains why the stock prices of these American car manufacturers plummeted on the New York Stock Exchange following President-elect Trump's tariff announcement.
In addition, the Mexican government has established a 'Regional Economic Development and Corporate Relocation Advisory Committee,' including 14 key business figures, and plans to develop economic strategies in response to the possibility of U.S. tariffs, as well as to foster industries in aerospace, including the development of its own satellites.
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