José Gerardo Tajonar Castro, president of the National Association of Importers and Exporters of the Mexican Republic (Anierm)He said that tariffs imposed by Donald Trump to Made in Mexico products will increase inflation in the United States 0.4 percent.
“It is likely that this situation (of tariffs) generates an inflationary impact on the United States, estimated at 0.4 percent, due to the increase in the cost of Mexican products,” said the businessman.
Lee: Trump’s tariff
He added that the imposition of tariffs has serious implications for the Mexican economy: “In the first place, it constitutes a violation of article 2.4.1 of the T-MEC, which prohibits the increase of tariffs to the original goods.”
It also violates the agreements of the World Trade Organization (WTO) by establishing tariffs higher than those established by the United States, he said.
Mexico is in an unfavorable situation, since the average tariff that the United States applies to countries without treaty is 2.3 percent.
The economic impact of these tariffs will be significant, since Mexican exports will be affected for a value of 475 billion dollars, which represent 80 percent of the total exports of Mexico to the world.
The most affected sectors will be those of vehicles, electrical equipment and machinery, which together represent more than 60% of exports to the United States.
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Yesterday, the president of the United States, Donald Trump, signed the executive orders for which 25 percent tariffs for the goods of Mexico and Canada (with the exception of Canadian oil, which will have only one only one 10 percent) and 10 percent for China.
Since his particular residence of Mar-A-Lago in Florida, the president made a promise announced repeatedly and that can unleash a commercial war.
“It is not with the imposition of tariffs that problems are solved, but speaking and dialoguing how we did in recent weeks with its State Department to address the phenomenon of migration,” said Claudia Sheinbaum, Pardo President of Mexico, who He rejected the measures imposed by Donald Trump and replied with mirror measures.
“He instructed the Secretary of Economy to implement Plan B that we have been working on, which includes tariff and non -tariff measures in defense of Mexico’s interests,” said the president.
“I want to talk to the Americans: this is a decision that we do not make, but that it will have many consequences for you, because I have constantly said that if you attack Canada, your businesses will be put at risk,” said Justin Trudeau, Prime Minister from Canada.
“This decision will have consequences for the people of America: it will put jobs at risk, it will raise prices for you and violate the treaty that we have between the three countries (Mexico, the United States and Canada), but it does not have to be so,” said the Representative of Canada, who also applied tariffs to several Made in USA products.
The President of the Anierm recalled that although the executive order for Mexico has not yet been published, the date of entry into force of the tariffs is on February 4, in line with the provisions of Canada. “These tariffs will remain in force until, according to the US government, Mexico cooperates more effectively in the fight against drug trafficking and border security.”
Executive orders also contemplate the possibility that the US government increases or extends the scope of tariffs in case Mexico or Canada implement commercial reprisals.
“The legal basis for the imposition of these tariffs is found in the Law on International Emergency Economic Powers (IEEPA), which empowers the president of the United States to take measures to address threats to national security or economy from abroad” .
Lee: FULFILL IT: Trump orders 25% tariffs to imports from Mexico and Canada
In the context in which these measures are taken, Donald Trump’s tariffs can be interpreted as a escalation in commercial tensions with their main commercial partners.
“While the US government argues that tariffs are a tool to pressure Mexico on security and migration, international trade experts warn that this type of unilateral measures can be counterproductive and generate a domino effect of commercial reprisals, affecting the economy the economy Global, ”he said.
José Gerardo Tajonar Castro said that the use of IEEPA, a law designed to address national emergencies, as justification to impose tariffs for political purposes, is worrisome. “This could sit a dangerous precedent and weaken the multilateral trade system.”
Today the Anierm is committed to supporting the Mexican business sector, monitoring the evolution of the situation and the possible responses of the Mexican government, and keeping entrepreneurs informed about any relevant development.
We have always promoted the diversification of markets through the international events that we carry out year after year, and we will continue working in this line to strengthen the presence of Mexico in international trade, concluded the president of the ANIEM.
