Mexican President Warns Trump's Tariffs Could Backfire Economically

Mexican President Claudia Sheinbaum announced plans to send a letter to U.S. President-elect Donald Trump, urging for dialogue in response to his proposed 25% tariffs on Mexico and Canada. She warned that such tariffs would lead to inflation and job losses in both countries, potentially violating the USMCA agreement. Sheinbaum emphasized Mexico’s efforts in combating drug trafficking and reducing migrant arrivals, while highlighting the need for cooperation on shared issues like illegal arms trade from the U.S. The Mexican peso fell by 1.3% following the announcement.