The consequences of US tariffs on Mexican goods will have a serious negative impact on the American economy, Mexican President Claudia Sheinbaum has said.

“The 25 percent tariffs that have been imposed [on Mexico by the US] will have consequences for both countries. They will have extremely serious consequences for the US economy, since the cost of all goods exported from Mexico to the US will increase considerably,” Sheinbaum said in a video message. “As they say, they [i.e.  the US] are shooting themselves in the foot.”

Also, she noted that the damage to Mexico due to these tariffs will be significant. According to her, many companies in the Mexican market will have to decide whether to leave or stay.

“But there [in the US] they don’t even have enough labor, and everything is more expensive there, they don’t even have energy,” the Mexican president stressed.

Sheinbaum added that she is waiting for a response from US President Donald Trump on the proposal to set up a task force between the two countries to discuss US demands on Mexico and find a negotiated solution.