The Mexican government warned of retaliatory tariffs on U.S. products in response to the U.S. government's 25% tariff on Mexican goods.
Claudia Sheinbaum, the President of Mexico, noted during a regular press conference on 4th (local time) that "we will respond to the U.S. decision with tariff and non-tariff (two-track) measures," adding that she would announce specific tariff items through a speech to crowds in the Zócalo Square in front of the presidential palace on 9th.
President Sheinbaum criticized the U.S. actions as 'offensive' and 'unilateral,' stating that "there is no legitimacy to the Trump administration's decision."
He said, "It is unimaginable that they are not considering the harm that will arise to both American citizens and corporations due to rising prices of goods in the U.S.," adding that "nobody benefits from Trump's decision."
While saying this, he also expressed a willingness to negotiate, stating that "there is absolutely no intention to engage in a trade war."
The U.S. implemented new tariff measures at 25% on Mexico and Canada and '10% + 10% rate' on China, effective as of 12:01 a.m. (Eastern Daylight Time) on that day. Canada and China have already made decisions to impose corresponding tariffs.
On that day, the Mexican stock market showed a downward trend, continuing from the previous afternoon. The peso exchange rate also rose by about 1% against the dollar compared to the previous day (devaluation).