Mexican President Claudia Sheinbaum announced on Thursday that her country would review its tariffs on Chinese imports, a move that could align with President Donald Trump’s broader strategy to create a “Fortress North America” by limiting trade from China.
During a press conference, Sheinbaum emphasized the negative impact Chinese imports have had on Mexico’s domestic industries, particularly textiles and footwear. “Much of the entry of Chinese products into Mexico caused this industry to fall in our country,” Sheinbaum said, signaling the country’s willingness to reconsider its tariff structure.
The timing of her comments follows President Trump’s recent decision to delay tariff hikes on goods from Mexico and Canada, the U.S.’s largest trading partners, in a move to exempt products covered by the USMCA free trade agreement from the planned 25% tariffs. This decision marked a surprising reversal from Trump’s previous stance. Just two days prior, he had announced the largest tariff increase in a century but was forced to back down after the stock market tumbled and Republicans expressed growing concerns about the economic impact.
Trump’s decision to scale back the tariffs followed talks with Sheinbaum, Canadian Prime Minister Justin Trudeau, and auto industry executives. As part of this negotiation, Mexico has explored matching the U.S. tariffs on Chinese imports, a proposal that U.S. Treasury Secretary Scott Bessent recently endorsed. Bessent also suggested that it would be a favorable gesture if Canada followed suit, ultimately creating a “Fortress North America” to protect the region from a flood of Chinese goods.
Since the U.S. imposed tariffs on China during Trump’s first term, Chinese companies have shifted production to Mexico, using the country as a conduit to ship goods to the U.S. The potential reevaluation of Mexico’s tariff policy could further consolidate efforts to block Chinese imports within the North American market.
In response, Chinese Commerce Minister Wang Wentao criticized the impact of tariffs on global trade. Speaking at a briefing, Wang stated that “certain countries are wielding the tariff stick, disrupting the international trade order and affecting the stability of the global industrial and supply chains.” He emphasized that China would make every effort to support foreign trade under these challenging conditions.
Related topics:
China Sets Ambitious 5% GDP Growth Target for 2025 Amid Trade Tensions
Malaysia to Pay Arm Holdings $250 Million for Chip Design Blueprints
Equities Decline, Bonds Rise on Tariff Concerns: Markets Wrap
