The Mexican government has decided to postpone taking measures in response to tariff threats from the United States. According to the deputy governor of the Bank of Mexico, Omar Mejía, it is expected to gather more information until April 2 before making decisions regarding the country's monetary policy.
In this context, the exchange rate has experienced a slight upward variation, closing at 20.33 pesos per dollar this Wednesday, compared to 20.29 pesos per dollar the previous day. Despite the uncertainty generated by tariffs on steel and aluminum, Mejía pointed out that there are other factors that could counteract the impact on the exchange rate, such as a possible greater slack in domestic economic conditions.
The deputy governor also emphasized the need to wait for formal announcements to assess the true impact of the general tariff policy that could be implemented starting April 2. He stressed that tariffs have been used as a negotiation tool by the U.S. administration and that it is important to consider whether their application will be temporary or have lasting effects on negotiations.
Despite U.S. pressures to reduce the trade deficit, control migration, and combat insecurity, the Mexican peso has maintained relative stability compared to other international currencies. Omar Mejía stated that, despite adverse global conditions, Mexico is expected to continue experiencing economic growth this year and next.
Regarding the tariff threats driven by Donald Trump, the U.S. administration has indeed begun to impose 25 percent tariffs on steel and aluminum products coming from Mexico and other parts of the world.
