The Japan Times - No 'eye for an eye' approach to US tariffs: Mexico

EUR -
AED 4.049778
AFN 78.834299
ALL 99.033342
AMD 431.456343
ANG 1.973823
AOA 1005.540147
ARS 1184.510488
AUD 1.740106
AWG 1.984619
AZN 1.871047
BAM 1.951157
BBD 2.225918
BDT 133.95119
BGN 1.953417
BHD 0.415629
BIF 3226.660051
BMD 1.102566
BND 1.473074
BOB 7.618042
BRL 6.190801
BSD 1.102437
BTN 94.108603
BWP 15.256919
BYN 3.607729
BYR 21610.297969
BZD 2.214448
CAD 1.554541
CDF 3167.672699
CHF 0.949657
CLF 0.027281
CLP 1046.908381
CNY 8.028391
CNH 8.030442
COP 4581.504452
CRC 555.45727
CUC 1.102566
CUP 29.218005
CVE 110.006211
CZK 25.045922
DJF 195.947771
DKK 7.461959
DOP 69.623267
DZD 146.912551
EGP 55.769964
ERN 16.538493
ETB 145.130438
FJD 2.566609
FKP 0.849767
GBP 0.842206
GEL 3.042781
GGP 0.849767
GHS 17.089472
GIP 0.849767
GMD 78.830087
GNF 9541.515201
GTQ 8.509592
GYD 230.665979
HKD 8.575705
HNL 28.207398
HRK 7.54001
HTG 144.267713
HUF 403.661068
IDR 18465.889357
ILS 4.082247
IMP 0.849767
INR 94.030872
IQD 1444.233926
IRR 46431.844181
ISK 144.314781
JEP 0.849767
JMD 173.672773
JOD 0.781606
JPY 161.04578
KES 142.506807
KGS 95.60528
KHR 4409.646484
KMF 500.014042
KPW 992.369183
KRW 1600.661596
KWD 0.339262
KYD 0.918627
KZT 552.612033
LAK 23885.559894
LBP 98786.765454
LKR 327.39557
LRD 220.466371
LSL 20.781097
LTL 3.255591
LVL 0.666932
LYD 5.33219
MAD 10.487244
MDL 19.686991
MGA 5027.940557
MKD 61.511679
MMK 2314.787019
MNT 3851.769118
MOP 8.833576
MRU 43.813776
MUR 50.023376
MVR 16.990372
MWK 1911.842309
MXN 22.023316
MYR 4.897654
MZN 70.451818
NAD 20.780251
NGN 1695.23982
NIO 40.564638
NOK 11.404074
NPR 150.576289
NZD 1.901293
OMR 0.424466
PAB 1.102556
PEN 4.048086
PGK 4.549174
PHP 62.857624
PKR 309.248804
PLN 4.227851
PYG 8845.546281
QAR 4.019435
RON 4.978193
RSD 117.17297
RUB 92.685108
RWF 1572.964625
SAR 4.136492
SBD 9.180809
SCR 15.773594
SDG 662.092022
SEK 10.787111
SGD 1.473199
SHP 0.866444
SLE 25.171542
SLL 23120.263604
SOS 630.003648
SRD 40.298877
STD 22820.894741
SVC 9.647255
SYP 14336.339478
SZL 20.788701
THB 37.64133
TJS 12.001035
TMT 3.870007
TND 3.373498
TOP 2.582323
TRY 41.871279
TTD 7.474586
TWD 36.451059
TZS 2924.510568
UAH 45.517981
UGX 4017.56488
USD 1.102566
UYU 46.573677
UZS 14239.435486
VES 77.098718
VND 28451.721382
VUV 136.24344
WST 3.123386
XAF 654.272445
XAG 0.034516
XAU 0.000355
XCD 2.97974
XDR 0.825967
XOF 654.373081
XPF 119.331742
YER 270.845622
ZAR 20.688194
ZMK 9924.417531
ZMW 30.622794
ZWL 355.025874
  • RBGPF

    -0.2800

    67.72

    -0.41%

  • CMSD

    -0.1600

    22.67

    -0.71%

  • CMSC

    -0.2400

    22.26

    -1.08%

  • SCS

    -0.7200

    10.74

    -6.7%

  • GSK

    1.3700

    39.01

    +3.51%

  • RELX

    0.4600

    51.44

    +0.89%

  • JRI

    -0.2200

    12.82

    -1.72%

  • NGG

    3.6100

    69.39

    +5.2%

  • BCC

    -7.4400

    94.63

    -7.86%

  • RIO

    -1.4700

    58.43

    -2.52%

  • BTI

    1.6700

    41.92

    +3.98%

  • RYCEF

    0.0200

    9.8

    +0.2%

  • BCE

    0.8400

    22.66

    +3.71%

  • BP

    -2.4700

    31.34

    -7.88%

  • VOD

    0.2500

    9.37

    +2.67%

  • AZN

    1.7000

    73.92

    +2.3%

No 'eye for an eye' approach to US tariffs: Mexico
No 'eye for an eye' approach to US tariffs: Mexico / Photo: Sergio Morales - AFP

No 'eye for an eye' approach to US tariffs: Mexico

Mexican President Claudia Sheinbaum said Tuesday there will be no "eye for an eye" approach as the country braces for new US import tariffs kicking in this week.

Text size:

The leader of the United States' biggest trading partner spoke on the eve of President Donald Trump's expected announcement of "reciprocal" tariffs, with 25 percent levies on imported cars and car parts.

Mexico has previously vowed a "comprehensive response" to Trump's tariffs, sticking to a strategy of prioritizing dialogue.

But Sheinbaum said Tuesday "we do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation."

She added that "of course, measures are taken (in Mexico) because measures are taken on the other side, but the dialogue must continue."

Trump has said he will unveil a raft of so-called "reciprocal tariffs" Wednesday, on what he has dubbed America's "Liberation Day."

He insists the duties are necessary to combat trade imbalances with other countries.

Mexico's economy is considered one of the most vulnerable to Trump's tariffs due to its close trade relations with the United States.

The Latin American nation is home to many foreign-owned vehicle assembly plants operated by companies including Ford, General Motors, BMW, Volkswagen and Toyota.

More than 80 percent of Mexican exports go to the United States, including around three million vehicles a year.

Sheinbaum said her government would wait to hear the details of Trump's announcement Wednesday to respond accordingly.

"We are not certain, no country in the world is certain exactly what will be announced on April 2," she said at her daily press conference.

On the topic of migration, another point of contention with Mexico's northern neighbor, Sheinbaum insisted her government was willing to "coordinate" approaches with the United States, but "not subordinate" to it.

"The president answers to one authority only, and that is the people of Mexico," she said.

Sheinbaum was visited last Friday by US Homeland Security Chief Kristi Noem, who said she gave the president a list of demands related to curbing migration, including greater control over Mexico's border with Guatemala.

Guatemala is a transit country for many migrants trying to reach the United States from South America.

T.Sato--JT