Trump’s actions caught Mexican officials off guard and stirred fears of a prospective financial crisis in Mexico, where a long-sluggish economy is heavily dependent on cross-border trade.
“There is an atmosphere favorable to dialogue in our country as well as in the United States,” Lopez Obrador said at a news conference in the gulf state of Veracruz.on Thursday that Washington would impose escalating tariffs starting at 5% on all Mexican imports until Mexico moved to shut down U.S.-bound migration — mostly of Central Americans traversing Mexican territory en route to the border.
Mexican officials have expressed confidence that they can change Trump’s mind on the tariff issue, noting that he has previously backed down on other pronouncements — such as repeated threats to shut down border crossings between the United States and Mexico.
Mexico is the United States’ third largest trade partner, after China and Canada, with $671 billion in binational commerce in goods and services in 2018, according to the office of the U.S. Trade Representative. Next week, Mexican officials are expected to present U.S. authorities with a detailed plan to help thwart the migrant flow. Since April, following Trump’s most recent threats to shut border crossings, Mexican authorities have initiated a crackdown on migrants traversing southern Mexico, increasing detentions and deportations.
Mexico’s 600-mile border with Guatemala is largely unguarded and is a historical hub for smugglers ferrying migrants and contraband. Most experts agree that Mexico lacks the resources and manpower to shut down its southern frontier, which includes rivers, jungle and mountain terrain.
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