Mexico vows retaliation against U.S. tariffs proposed by Trump

Mexican President Claudia Sheinbaum announced that Mexico would retaliate if U.S. president-elect Donald Trump implements a proposed 25% tariff on imports. She warned this could lead to significant job losses in the U.S. and higher prices for consumers. During a press conference, Economy Minister Marcelo Ebrard emphasized the negative impact on the automotive sector, noting that 88% of pickup trucks sold in the U.S. are made in Mexico. He stated that the average price of these vehicles could rise by $3,000. Sheinbaum and Trump discussed migration issues in a phone call, with Trump claiming they reached an agreement to control migration. Sheinbaum clarified that Mexico's approach focuses on cooperation rather than closing borders.