Last Monday, Donald Trump announced that the 25 percent tariffs on imports from Mexico and Canada would come into effect on Tuesday, March 4. In light of this situation, President Claudia Sheinbaum emphasized the importance of staying calm and having a plan. However, the agreement reached with Trump to postpone the tariffs to April 2 demonstrated that Sheinbaum's strategy was correct.
In contrast to Canada's swift response with 25 percent tariffs on U.S. imports, Sheinbaum decided to wait and dialogue with Trump to reach an agreement. An understanding was achieved regarding the effects of uncertainty in international financial markets and the importance of maintaining a composed stance.
Sheinbaum's strategy was key, temporarily avoiding retaliatory measures against the United States, its main trading partner. The decision to wait and engage in dialogue resulted in the suspension of tariffs by Trump, primarily benefiting products covered by the USMCA with clear rules of origin.
The announcement of the agreement led to a change in the Ministry of Finance, with the departure of Rogelio Ramírez de la O and the appointment of Edgar Amador. Amador faces the challenge of consolidating public finances and maintaining the economic stability of the country. His commitment is crucial during a period marked by economic uncertainty at the international level.
