MEXICO CITY: Mexican President Claudia Sheinbaum on Thursday welcomed her country being excluded from the list of nations targeted in US President Donald Trump's latest round of tariffs.
Sheinbaum told reporters Mexico was spared thanks to her government’s “good relationship” with the US administration.
Mexico's economy is considered one of the most vulnerable to Trump's tariffs due to its close trade relations with the United States and their joint membership of the US-Mexico-Canada Agreement (USMCA) on free trade.
More than 80 percent of Mexican exports go to the United States, including around three million vehicles a year.
The Latin American nation is home to many foreign-owned vehicle assembly plants operated by companies including Ford, General Motors, BMW, Volkswagen and Toyota.
Economy Secretary Marcelo Ebrard said Thursday the USMCA remained intact, which he described as a “major achievement.”
He said Mexico would, in the next 40 days, seek “the best conditions” for bilateral trade in automobiles, steel and aluminum.
Trump had previously threatened Mexico and Canada with 25 percent tariffs, accusing its neighbors of allowing trafficked drugs and undocumented migrants into the United States.
Tariffs for Mexico have already entered into force for all products not covered under the USMCA.
