Mexico awaits Saturday's deadline for US president Donald Trump's tariff implementation with a "cool head" and has prepared alternative options to react, President Claudia Sheinbaum said after Trump confirmed Thursday he plans to proceed with his threats to impose 25pc tariffs on all imports from Mexico and Canada.
Earlier this week, Sheinbaum said she still believed Trump would call off the plans for punitive tariffs over demands that Mexico, along with Canada, take stronger measures to halt flows of immigrants and the opioid fentanyl from the bordering countries into the US. Regardless, Mexico has prepared a "Plan A, B and C" to address any of the scenarios that could take place, Sheinbaum said.
"We will always defend respect for our sovereignty and a dialogue as equals, but without subordination," she said, emphasizing that Mexico will always keep a cool head when taking decisions and rely on its preparation.
When pressed on potential retaliatory tariffs coming from Mexico, Sheinbaum has so far been evasive.
US tariffs would harm Mexico's energy sector, as nearly all of Mexico's roughly 500,000 b/d of crude shipments to the US in January-November 2024 were waterborne cargoes sent to US Gulf coast refiners, although these cargoes could be diverted to Europe or Asia.
When Trump was asked Thursday if his tariffs might exempt crude imports, he said he was not inclined to exclude them but has yet to make a decision. "We may or may not" exclude oil, Trump said. "It depends on what the price is, if the oil is properly priced, if they treat us properly." On Friday the White House repeated that it plans to implement the tariffs on 1 February.
Mexico also imports the majority of its road fuels and LPG from the US, according to energy ministry data.
