Mexican President: If the United States insists on imposing

Mexico City News: Mexican President Simbaum said on the 5th local time that if the United States insists on imposing a 25% tariff on Mexican goods, Mexico may seek to establish contacts with other trading partners.

On March 4th, the United States began imposing a 25% tariff on goods from Canada and Mexico. According to the National Institute of Geography and Statistics (INEGI) of Mexico, in 2024, Mexican exports to the United States accounted for over 80% of Mexico's total exports. This data highlights the high dependence of the Mexican economy on the US market, and also makes the impact of US tariff measures on the Mexican economy huge.

The Mexican Financial Daily reported that Simbaum stated at a press conference held at the National Palace in Mexico City on the 5th that if the United States maintains its existing tariff policies, Mexico may seek new trading partners because it must defend its sovereignty and independence, and "Mexico will not submit". She also said that cooperation may be possible with other countries (such as Canada) that are also affected by US tariffs. The day before, Simbaum announced that specific details of tariffs and other retaliatory measures on US Mexican goods would be announced on March 9th.

According to Agence France Presse, Simbaum also stated that the Mexican government prefers to resolve the issue through negotiations. She stated that she will have a phone discussion with Trump on the tariff issue on the morning of the 6th. In her opinion, the door to dialogue must always be open. Despite Mexico's expressed willingness to negotiate, seeking new trading partners has become an important potential measure to safeguard its national interests in the face of the United States' tough tariff policies.

The Mexican Sun reported that Simbaum emphasized that imposing tariffs would also have an impact on the United States in the short term, reflected in rising prices and a decline in the stock market. According to the BBC, US retailers Target and Best Buy have recently issued warnings to consumers that imposing tariffs will lead to price increases for their products. In addition, on the day when the tariffs imposed by the United States on Canada and Mexico came into effect, all three major stock indexes in New York fell. This indicates that the imposition of tariffs by the United States not only harms the interests of Mexico and Canada, but also has a negative chain reaction on its own economy.

US President Trump has consistently cited Mexican drug trafficking and illegal immigration as the main reasons for imposing tariffs on Mexican goods imported to the US. The Mexican side had previously promised to strengthen control over illegal immigration at the US Mexico border, collaborate with the United States to combat drug smuggling, and have taken some measures. However, the United States still implemented tariff measures, which forced Mexico to re-examine its trade relationship with the United States and actively explore new directions for trade cooperation to reduce dependence on the US single market and maintain the stability and development of its economy.