Mexico considers response to Trump's tariff proposal as peso declines
ft.com —
Mexico's President Claudia Sheinbaum has hinted at possible retaliation against U.S. President-elect Donald Trump's proposed 25% tariffs on imports from Mexico. The Mexican peso fell 1.7% against the dollar following Trump's announcement. Sheinbaum emphasized that tariffs would not solve issues related to migration and drug trafficking. She noted that U.S. Border Control apprehensions of undocumented migrants have significantly decreased and highlighted Mexico's efforts to combat drug trafficking. In contrast to her predecessor, Sheinbaum's response is more direct. Some analysts suggest her approach may lead to increased tensions ahead of Trump's inauguration in January.