The United States government plans to impose several tariffs on products coming from Mexico on specified dates. Initially, a universal tariff of 25% on all Mexican products is expected to take effect on March 4, 2025. Later, on March 12, 2025, tariffs of 25% will specifically apply to steel, aluminum, and finished products. This measure could trigger significant increases in the prices of food, electronics, cars, and construction materials.
Economists consulted by Publimetro have expressed their concerns about the possible negative repercussions of this decision. Ramón Martínez, an expert in Economics and Finance from the Banking and Commercial School (EBC), warns that the tariffs would directly affect the most consumed products imported by Mexico, which would lead to an increase in the dollar, raw materials, and a possible loss of jobs and an increase in production costs.
Martínez points out that consumers will face weekly or monthly increases of 5% in processed foods and basic grains, as well as price increases for cars, auto parts, supplies for automobiles, fuels, and chemicals for industry, among others. Additionally, he mentions that products derived from oil, electronics, household appliances, and computing products would be affected.
Javier Salmerón, manager for Mexico of the credit repair company Bravo, emphasizes that these tariffs could impact consumers within two to four weeks, which could result in difficulties in meeting financial obligations, such as mortgage payments, personal loans, and credit card bills.
The implementation of additional tariffs on wood, pharmaceuticals, and forest products, as well as on copper, is expected for later dates in 2025. President Donald Trump has signed an executive order to investigate copper imports. This scenario could trigger an increase in delinquency rates on personal loans, affecting the financial stability of Mexicans.
