Last Friday, Donald Trump announced that tariffs on automotive imports could begin on April 2, 2025. Although these measures are considered part of a negotiation strategy, they pose a risk to Mexico. According to Gabriela Siller, 26.7% of the Mexican GDP depends on exports to the United States.
The economic uncertainty generated by the possible imposition of U.S. tariffs on Mexican exports has caused a 0.37% drop in the value of the Mexican peso, making it the most depreciated currency globally. In light of the threat of 25% tariffs on all Mexican products starting March 4, and up to 50% on steel and aluminum a few days later, the dollar reached an average price of 20.39 pesos.
During the financial session on Monday, February 17, 2025, the exchange rate fluctuated between 20.28 and 20.4287 pesos per dollar in interbank and international operations, with an average depreciation of 7.6 cents compared to the closing on the previous Friday, when it was around 20.46 pesos.
Gabriela Siller, director of Economic Analysis at Grupo Financiero BASE, identified three factors threatening and contributing to the depreciation of the Mexican peso: the imposition of tariffs on steel and aluminum starting March 12, tariffs on general imports from Mexico and Canada starting March 4, and the possible application of tariffs on automotive imports.
