Mexico's president said Tuesday, March 4, the country will respond to the 25% tariffs imposed by the United States with retaliatory tariffs on US goods, with details to come.
Mexico will announce the targeted products and other measures Sunday at an event in Mexico City's central plaza, a delay that suggests Mexico hopes to de-escalate the trade war set off by US President Donald Trump.
President Claudia Sheinbaum said the government is "going to wait" because she had planned to speak to Trump this week. Mexico's government has said since January it had a plan ready for this scenario.
"There is no motive or reason, nor justification that supports this decision that will affect our people and our nations," Sheinbaum added. China and Canada responded immediately with measures Tuesday.
Hours later, after stock markets took a hit, US Secretary of Commerce Howard Lutnick said in a video posted to X that he was on the phone "all day" with Mexican and Canadian authorities. Lutnick said it appeared the government was going to "work something out" with the trade partners, a deal that could be announced on Wednesday.
"It's not going to be a pause. None of that pause stuff," he said. "Somewhere in the middle will likely be the outcome."
Some 80% of Mexico's exports go to the United States, part of more than $800 billion in trade between the countries last year.
Sheinbaum called "offensive, defamatory and without support" the White House allegations that Mexican drug traffickers persist because of "an intolerable relationship" with the Mexican government. Trump has said he's targeting Mexico to force it to crack down on migrants and drugs entering the US.
She listed the achievements of her young administration against Mexico's drug cartels, including seizing more than a ton of fentanyl and dismantling 329 methamphetamine labs. She also noted that Mexico sent the US 29 drug cartel figures it requested last week.
"It's inconceivable that they don't think about the damage this is going to cause to United States citizens and businesses," Sheinbaum said. "No one wins with this decision."
Mexico's president also noted that Trump on Monday said he respected her, and she said she respected him as well: "The thing is finding a way to collaborate, of coordinating without subordinating anyone for the benefit of our people."