Mexico Celebrates Tariff Exclusion Under USMCA

Mexican President Claudia Sheinbaum celebrated Mexico's exclusion from new U.S. tariffs announced by President Trump. The tariffs affect most imports but not Mexico, due to the USMCA. The Mexican economy showed positive reactions, while officials like Economy Minister Marcelo Ebrard praised the exemption as a major achievement.

Mexican President Claudia Sheinbaum expressed gratitude on Thursday for Mexico's preferential tariff treatment under the US-Mexico-Canada Agreement (USMCA) after the country was spared from U.S. President Donald Trump's newest tariff impositions.

The U.S. announced tariffs of 10% on nearly all imports, affecting key partners including China and the EU. However, Mexico's exclusion led to a 1.3% appreciation of the peso and a 0.65% increase in the main stock index, marking significant economic milestones.

Economy Minister Marcelo Ebrard lauded the exemption, calling it a significant achievement. Sheinbaum further announced forthcoming decrees to support local industries, highlighting Mexico's vulnerability due to its substantial export reliance on the U.S.

(With inputs from agencies.)