The slowdown of the economy could extend for several months or even the entire year, depending on the intensity and duration of the imposed tariffs. In January, imports increased by 5.9 percent, reaching 49 billion 4 million dollars, resulting in a trade deficit of 4 billion 558 million dollars, 10.3 percent higher than in January 2024.
The President of the United States, Donald Trump, confirmed that tariffs on Mexico will take effect starting March 4, instead of the originally announced date of April 2. This decision is linked to the fight against fentanyl trafficking, and Trump has stated that the tariffs will go ahead if the situation does not improve.
In response, the President of Mexico, Claudia Sheinbaum, has expressed her willingness to continue dialogue with the U.S. to find a solution and hopes that new terms can be announced on March 4. Meanwhile, Mexican exports have seen significant growth as the year began, especially in the manufacturing industry and sales to the United States.
During January, total exports increased by 5.5 percent compared to the previous year, reaching 44 billion 446.2 million dollars. Manufactured exports grew by 8.8 percent, highlighting a 14.5 percent increase in the rest of the manufacturing sector. As for exports to the U.S., they grew by 10.6 percent, with a 17.6 percent increase in other exports.
Experts such as Janneth Quiroz from Monex have pointed out that this increase in exports is partly due to the possibility of imposed tariffs, which has led producers to anticipate. Additionally, the strength of the U.S. economy has also contributed to boosting Mexican exports. On the other hand, Jorge Gordillo from CI Banco warns that the growth of exports could decrease in the coming months due to the persistent threat of tariffs and possible changes in Trump's economic policies.
