Mexico City: The proposed tariffs by U.S. President-elect Donald Trump on goods from Mexico and Canada could jeopardize regional job markets and lead to economic uncertainty, according to a warning from the Confederation of Employers of the Mexican Republic (COPARMEX).
COPARMEX issued the alert on Thursday, stating that Trump’s repeated threats of tariffs would undermine economic stability in the region and directly challenge the spirit of cooperation and understanding underpinning the United States-Mexico-Canada Agreement (USMCA). The confederation emphasized that “tariff threats create uncertainty in strategic sectors and put millions of jobs dependent on trade between the three countries at risk.”
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Trump reiterated his stance on Monday, declaring that the U.S. could impose a 25% tariff on goods coming from Mexico and Canada unless they address key issues like immigration and drug smuggling.
Earlier this week, Mexican President Claudia Sheinbaum sent a letter to Trump, warning that Mexico would retaliate with tariffs on American goods if necessary. The ongoing dispute has raised concerns about the broader economic impact, especially on industries heavily reliant on cross-border trade and supply chains.
This issue comes at a time of rising trade tensions, with critics of Trump’s tariff proposals arguing that such policies could lead to disruptions in the manufacturing sector, increased costs for consumers, and a potential economic slowdown.