Automotive industry urges caution and preparation for possible new tariffs

The head of the Mexican Automotive Industry Association (AMIA) stated on Tuesday that it is vital to wait for the United States’ formal tariff actions to be published in January before reacting, but that as a country, we must be prepared for any scenario.

President-elect Donald Trump, who takes office on January 20, announced on Monday that a 25% tariff would be imposed on Canadian and Mexican imports until those countries crack down on drugs, particularly fentanyl, and migrants crossing the border, a move that appears to violate the North American Free Trade Agreement (NAFTA).

Trump announced on Monday that he will put a 25% tax on all Mexican and Canadian imports, as well as an additional 10% duty on Chinese items, when he returns to office in the United States on January 20.