Mexico considers tariffs on U.S. in response to Trump's proposed trade measures

Mexican President Claudia Sheinbaum indicated that Mexico may impose tariffs on the U.S. if President-elect Donald Trump enacts a proposed 25% tariff on Mexican goods. She emphasized the need for cooperation to avoid inflation and job losses. The Mexican peso fell over 1.6% against the U.S. dollar following Trump's announcement. Shares of major automotive companies, including General Motors and Ford, also declined significantly. Canadian Prime Minister Justin Trudeau plans to discuss Trump's tariff threats with his cabinet. He recently spoke with Trump about the strong ties between the two countries. Sheinbaum intends to speak with Trump soon.