Daniel Becker, vice president of the Association of Banks of Mexico (ABM), said that the imposition of tariffs by US President Donald Trump will require “great political will and exceptional strategic sensitivity.
“No one wants tariffs, but confronting them will require great political will and exceptional strategic sensitivity,” Becker said in a note published on his personal account on the Linkedin social network.
In addition, he commented that the Mexican government, headed by Claudia Sheinbaum, is aware of this and will act accordingly.
“The results?…we’ll see,” said the vice president of the bankers.
The CEO of Banca Mifel, also commented that the most relevant regarding the Republican’s proposals are immigration, in this sense he commented that the “Stay in Mexico” policy will be resumed, with plans for raids in key cities that will have “important repercussions for the border cities of our country.”
“Energy: Trump, a climate change skeptic, will likely dismantle policies implemented by Biden to combat greenhouse gases. In addition, an increase in fracking and the reactivation of the Keystone pipeline is expected,” he noted.
“It should be remembered that in Mexico the extraction of hydrocarbons using this method is prohibited, which could generate competition challenges and have repercussions on the already weakened Pemex,” he added.
Regarding the issue of trade, Daniel Becker pointed out that Trump announced immediate tariffs on China, Canada and Mexico, which could have significant impacts.
“It is important to mention that close to 30% of Mexican GDP depends on exports, which makes this a critical issue,” he noted.
Regarding security, the vice president added that Trump raised the possibility of declaring Mexican cartels as terrorist organizations, “which would open the door to possible direct interventions by the United States in Mexican territory.”
“Beyond the rhetoric, on this occasion, with a clear popular mandate, it is foreseeable that Trump will begin to quickly execute his agenda, waiting for the reactions of the countries that could interfere with his campaign promises,” he said.
“It should not surprise us, as he has been very clear in his intentions. However, we must take immediate actions and develop different response plans for each of their proposals,” added the vice president of the ABM.
Recently, President Sheinbaum commented that if Trump imposes tariffs, Mexico will too, triggering a “tariff war” between North American countries. In this regard, specialists agreed that this situation would generate greater inflationary pressures, as well as deterioration in the economic activity of the three countries involved.
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