In early February, the U.S. president suspended the application of taxes after Claudia Sheinbaum committed to sending 10,000 National Guards to the northern border to contain drug trafficking. Despite the agreements, Trump’s decision on the 25% tariffs for steel and aluminum from Mexico and Canada, effective March 12, remains uncertain.
After discussions with his counterparts from Mexico and Canada, Trump decided to pause the tariffs for products under the USMCA. In response, Claudia Sheinbaum organized the 'Tariff-Fest' with musical groups in the Zócalo of CDMX, as Donald Trump decided to postpone the general 25% tariffs on Mexican products for the second consecutive month.
Analysts estimate that the festival in the Zócalo will not alleviate the uncertainty affecting investments and the Mexican economy, but it will help Sheinbaum consolidate internal support against Trump. Javier Rosiles Salas, a political scientist and academic, mentioned that this event is designed to strengthen Sheinbaum's image and leadership.
Despite concerns about the potential economic impacts of a tariff war with the United States, the confrontation with Trump has benefited the figure of Claudia Sheinbaum, who has gained a 60% popular support five months after starting her term. According to a recent survey by El Financiero, Sheinbaum has an approval rating of 85%, the highest for a president of Mexico in the last 30 years.
Despite Sheinbaum's apparent strength, it is unclear whether her political backing could weaken in the event of an economic deterioration in Mexico due to tensions with the United States. Specialists and rating agencies project a contraction of more than 1% of Mexico's GDP if tariffs are imposed, which has led to the suspension of relocation investments in the country.
