At a press conference, the Mexican president ruled out her administration adopting a direct retaliatory stance with mirror measures, that is, imposing tariffs on U.S. products in response to the levies the White House might announce.
Mexican President Claudia Sheinbaum announced that her government will present a comprehensive program to strengthen the national economy, particularly the automotive industry, in response to the tariffs that U.S. President Donald Trump will announce this Wednesday, April 2.
At a press conference, Sheinbaum ruled out her administration adopting a direct retaliatory stance with mirror measures, that is, imposing tariffs on US products in response to the levies the White House might announce.
Instead, he emphasized that the goal is to strengthen the Mexican economy through an industrial development program.
"(What will be announced) is a comprehensive program to strengthen the national economy, which also has to do with this. Not every country in the world is building what we're building here—the number of trains, airports, ports, and the entire program to boost manufacturing through well-being hubs," he said.
The president emphasized that her government has studied international experiences, such as the one implemented in Brazil during Dilma Rousseff's presidency in 2012. In that case, a tax was established on imports and domestic production, but with staggered reductions based on investment in research and development, efficiency, and the acquisition of local auto parts.
"The program allowed for a 75% increase in automotive production in Brazil from 2012 to 2017, increased vehicle performance, and increased research and development in the automotive industry," said Sheinbaum Pardo.
On the other hand, he mentioned that the program his government will present was designed six months ago as part of the "Mexico Plan," which seeks to boost manufacturing and reduce dependence on imports.
TALK WITH THE CANADIAN MINISTER
Regarding her April 1st meeting with Canadian Minister Mark Carney, the Mexican federal executive indicated that among the topics discussed were the importance of strengthening the United States-Mexico-Canada Agreement (USMCA) and maintaining the trade agreement between the two nations.
“In an ever-changing global economy, having strong and reliable partners is critical. Canada and Mexico are focused on deepening their trade relationships and building stronger economies together,” the Canadian leader wrote on his X social media account.
The president noted that the USMCA represents an evolution from the North American Free Trade Agreement (NAFTA) and has allowed for better conditions for Mexico.
He also noted that the renegotiation of the treaty began during Enrique Peña Nieto's administration and was concluded by former President Andrés Manuel López Obrador, asserting that the country obtained greater benefits in terms of trade and economic development.
