Trade Tensions: Mexico Warns of Job Losses from U.S. Tariffs

Mexican Economy Minister Marcelo Ebrard warned that U.S. President-elect Donald Trump's proposed 25% tariff could lead to 400,000 job losses and slow growth in the U.S., while harming Mexican exports. Ebrard emphasized the importance of regional cooperation instead of retaliatory import taxes.

In a significant statement on Wednesday, Mexico's Economy Minister Marcelo Ebrard cautioned against the proposed 25% tariff by U.S. President-elect Donald Trump, warning it could result in the loss of 400,000 jobs.

Ebrard, addressing a morning press conference, highlighted the repercussions of such tariffs not only on Mexico but also on economic growth within the United States.

He called for increased regional cooperation and integration as opposed to engaging in a battle of retaliatory import taxes, describing the tariff plan as 'a shot in the foot'.

(With inputs from agencies.)