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Mexico says Trump tariffs would cost 400,000 US jobs

Mexico says Trump tariffs would cost 400,000 US jobs

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US President-elect Donald Trump has threatened to impose 25% tariffs on Mexican and Canadian imports if they fail to stop illegal migration and drug smuggling. In response, Mexican Economy Minister Marcelo Ebrard has stated that Mexico would retaliate if Trump follows through with his proposal. He calls for more regional cooperation and integration, labeling Trump's proposal as "a shot in the foot". Mexican President Claudia Sheinbaum has also stated that the Mexican response would be swift if Trump imposes the tariffs.

Justin Trudeau
Liberal Party
1. We talked about some of the challenges that we can work on together. It was a good call.
Claudia Sheinbaum
Morena Party
1. I had an excellent conversation with President Donald Trump.
2. We will always defend our sovereignty. Mexico is a free, independent, sovereign country – and that is above everything else.
3. If there are U.S. tariffs, Mexico would also raise tariffs.
4. We discussed Mexico's strategy on the migration phenomenon and I shared that [migrant] caravans are not arriving at the northern border because they are being taken care of in Mexico.
5. We reiterate that Mexico's position is not to close borders but to build bridges between governments and between peoples.
Marcelo Ebrard
National Regeneration Movement
1. Our estimate is that the average price of these vehicles will increase by $3,000.
Joe Biden
Democratic Party
1. We have a unusual situation in America - we're surrounded by the Pacific Ocean, the Atlantic Ocean, and two allies: Mexico and Canada. The last thing we need to do is begin to screw up those relationships.
Donald Trump
Republican Party
1. But I can assure you, I guarantee you, that we never – additionally, we would be incapable of doing so – proposed that we would close the border in the north [of Mexico], or in the south of the United States. It has never been our idea and, of course, we are not in agreement with that.
David Kohl
Julius Baer
1. The lack of a clear link between this threat and questions related to trade suggests the new president plans to use tariffs as a negotiating strategy to achieve goals largely unrelated to trade.
Barclays Bank
1. While it's generally understood that a blanket 25 percent tariff on any vehicles or content from Mexico or Canada could be disruptive, investors under-appreciate how disruptive this could be.