MEXICO CITY.- The Mexican economy presents signs of deceleration for the commercial policy of the United States, the new Secretary of the Treasury, Edgar Amador, said on Wednesday, given the uncertainty generated by the swings of the tariff policy of President Donald Trump.
Mexico anticipated a brake in its economy by 2025, but Trump’s tariffs could lead to a fall in the Gross Domestic Product (GDP) in the first quarter, which would imply a “technical recession”, for the decline recorded in between October and December.
“There are some signals of slowing the national economy closely linked to the climate that we are seeing in the commercial policy of our main commercial partner. It is not exclusive to Mexico, even in the economy of the United States there are some signs of more moderate growth, ”said Amador in an appearance against deputies.
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The official, appointed Friday by President Claudia Sheinbaum instead of Rogelio Ramírez de la O, said the current context is “a key opportunity to build a more resistant economy, driven by internal growth engines.”
Amador, who until last week served as Undersecretary of the Treasury and that he is considered a “disciple” of his predecessor, opted for the replacement of imports of Asia, promoting national production, within the framework of the initiative of the “Mexico Plan” of Sheinbaum.
In the early hours of Wednesday, 25% of the United States and aluminum tariffs came into force that directly affect Mexico exports.
Sheinbaum said earlier that he will wait to decide whether to apply mirror measures to April 2, the day Trump plans to impose reciprocal tariffs for the countries with which the United States merchants, on the grounds that it is an answer to barriers of various types that are imposed on their exports.
The president believes that being part of the North American Free Trade Agreement with Canada and the United States should mean that taxes will not apply to Mexico, an aspect on which Washington has not pronounced.
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The brand new Secretary of the Treasury also said that under his management a “prudent public credit strategy” will be maintained and guaranteed the sustainability of public debt in the medium and long term.
“We will continue the efforts to achieve the objectives established in the 2025 economic package (budget) despite the adversities and possible winds against it,” he added.
With Reuters information
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