President Donald Trump suggested in an interview that the tariffs imposed on Mexico and Canada could increase beyond 25 percent, which would add more uncertainty to the trade policies that have generated concern in the markets and among businesses.
In the interview aired on Friday, March 7, one day after the tariffs were temporarily suspended following an agreement, Trump mentioned that the tariffs could increase over time, which could affect predictability in trade relations. Regarding the initial imposition of tariffs, Trump explained that it was necessary to benefit American automobile manufacturers and the USMCA agreement.
The President of Mexico, Claudia Sheinbaum, informed that starting April 2, Mexico, Canada, and China will be evaluated on tariff issues along with the rest of the world, ruling out that Mexico will impose tariffs on exports from the U.S. Sheinbaum emphasized that this would allow the U.S. not to impose tariffs on Mexican products.
Trump previously justified the imposition of tariffs on Mexico and Canada as a measure to pressure these countries to take action against the flow of fentanyl and undocumented migrants across the borders. After economic concerns and criticisms, an agreement was reached that temporarily halts the tariffs until April.
In the future, Trump reiterated the possibility of imposing reciprocal tariffs on Mexico, Canada, and other nations starting April 2. This measure would involve applying tariffs in response to those imposed by those countries.
