On Tuesday, the imposition of tariffs on Mexico and Canada by the United States is expected, although there is a possibility that these will not be widespread or reach 25 percent. The situation is dynamic, and it is anticipated that the president and his team will negotiate the details. Under Donald Trump's administration, the number of border crossings with Canada and Mexico has significantly decreased.
The economic and financial impact of the possible tariffs will depend on their scope, magnitude, and duration, as well as potential future revisions. Mexico could respond by immediately applying tariffs to certain products without overly affecting domestic inflation. Another option would be to continue negotiating and only apply tariffs if the talks do not progress.
Uncertainty will persist after the possible announcement, as it will be necessary to wait to see how the trade situation evolves, possibly including an early review of the USMCA. If the tariffs are confirmed, it will be a historic day, as it would be the first time in more than 31 years that exports from Mexico to the United States would be subject to tariffs.
Regarding the conversations between President Sheinbaum and President Trump, no concrete advancements or new phone calls have been announced. Despite the work done by Mexico and Canada at the border, no agreements have been announced, and uncertainty remains.
