Mexico will impose retaliatory tariffs on U.S. goods in response to the tariffs imposed by U.S. President Donald Trump, Mexican President Claudia Sheinbaum announced on Saturday.
In a statement, Sheinbaum condemned the U.S. tariffs and rejected accusations from Washington that her government has alliances with drug trafficking groups, calling the allegations \"slander.\"
\"We categorically reject the White House's slander that the Mexican government has alliances with criminal organizations, as well as any intention of meddling in our territory,\" Sheinbaum wrote in a lengthy post on X, formerly known as Twitter.
The announcement comes after President Trump signed an order imposing tariffs on imports from Mexico, Canada, and China. The escalating trade tensions have raised concerns about the impact on the North American economy and global markets.
Sheinbaum emphasized that Mexico seeks collaboration and dialogue with its northern neighbor, not confrontation. \"Our government is committed to working together with the United States to address shared challenges,\" she stated.
The Mexican president highlighted her administration's efforts since taking office in October, including the seizure of 20 million doses of the deadly synthetic opioid fentanyl and the detention of over 10,0000 individuals linked to drug trafficking.
Meanwhile, Canadian Prime Minister Justin Trudeau announced on Saturday that Canada would impose 25 percent tariffs on C$155 billion ($106.5 billion) worth of U.S. goods in response to the U.S. tariffs. C$30 billion worth of goods would take effect on Tuesday, while the remaining C$125 billion would be implemented in 21 days, Trudeau said at a news conference.
Analysts warn that the escalating trade disputes could have ripple effects on global markets, including Asia. With tariffs impacting key economies, supply chains may experience disruptions, affecting international trade and investment flows.
The trade disputes mark a significant escalation in tensions among the North American nations and could have far-reaching implications for businesses and investors around the world.
