Mexico’s president and economy minister have given the clearest picture yet of how their government will respond to United States President-elect Donald Trump’s proposed tariffs on the country, which their government has warned will cost 400,000 US jobs.
Speaking at a news conference on Wednesday, Mexican President Claudia Sheinbaum said the Mexican response would be swift if Trump followed through on the plans.
“If there are US tariffs, Mexico would also raise tariffs,” Sheinbaum said.
The comments were the latest response to Trump’s statement on Monday that he plans to impose massive tariffs not just on China, but on Canada and Mexico as well, at a whopping 25-percent rate.
Economy Minister Marcelo Ebrard also warned against Trump starting a regional trade war, calling the cost to US workers “huge”.
“Around 400,000 jobs will be lost” in the US, he said, pointing to a study based on figures from US carmakers that manufacture in Mexico.
He added the impact would extend beyond workers to US consumers. For example, Ebrard said, most pick-up trucks sold in the US are manufactured in Mexico. He claimed Trump’s tariffs would add $3,000 to the cost of a new vehicle.
“That is why we say that it would be a shot in the foot,” he said.
Source: Al Jazeera
