On Wednesday, Mexican President Claudia Sheinbaum announced that Mexico will not impose retaliatory tariffs if U.S. President Donald Trump proceeds with his planned tariffs set to take effect on April 2.

Instead, Sheinbaum indicated that Mexico would seek alternative ways to address the situation and would announce a comprehensive program to navigate the upcoming tariff changes.

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The announcement came just ahead of Trump’s expected announcement of new tariffs on various nations, including Mexico, Canada, and others. Sheinbaum stated that Mexico would not engage in a "tit-for-tat" approach to tariffs but would instead focus on dialogue to resolve the issue.

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“We do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation,” Sheinbaum said during her remarks on Tuesday, as reported by France24.

Sheinbaum made it clear that while Mexico would not directly retaliate, it would respond in other ways to mitigate the impact of the tariffs.

“Of course, measures are taken (in Mexico) because measures are taken on the other side, but the dialogue must continue,” Sheinbaum added. Mexico’s approach has focused on maintaining communication with the U.S. and finding constructive solutions, rather than escalating the situation with additional tariffs.

The announcement from Sheinbaum follows ongoing speculation about the nature of the tariffs that Trump plans to implement. These tariffs are expected to have a particularly significant impact on Mexico due to its close trade relations with the United States.

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Mexico is a major trade partner for the U.S., and more than 80 percent of its exports go to the U.S. This includes around three million vehicles annually, as well as other goods such as agricultural products and electronics.

In response to the uncertainty surrounding the specifics of the tariffs, Sheinbaum said Mexico would wait until Trump’s official announcement before formulating a full response.

“We are not certain, no country in the world is certain exactly what will be announced on April 2,” Sheinbaum said during her daily press conference. Trump is expected to unveil the details of his tariffs later today, with speculation surrounding the impact on various industries, including automotive and agriculture.

In addition to the potential impact on the automotive industry, which is crucial to both U.S. and Mexican economies, businesses in other sectors are preparing for the announcement.

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For example, Laurence Spiewak, CEO of Suerte Tequila, shared that the company would not raise prices due to the tariffs, stating, “Tequila margins are stronger than ever.” In 2024, the U.S. imported $5.2 billion worth of tequila and $93 million worth of mezcal from Mexico, according to the Distilled Spirits Council of the U.S.

While the U.S. government prepares to implement new tariffs, some foreign leaders have expressed their willingness to negotiate. Earlier on Wednesday, Ontario Premier Doug Ford suggested that Canada might be willing to remove its tariffs if the U.S. were to do the same.

However, the Trump administration has yet to indicate whether it will accept this offer.

Businesses and governments alike are bracing for the impact of these new tariffs. With Mexico’s response focused on dialogue and a comprehensive program rather than direct retaliation, the coming weeks will likely see further developments as the two nations navigate this trade dispute.

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