Economy Secretary Marcelo Ebrard ruled out the possibility of any country imposing retaliatory measures against Mexico over new tariffs.
“I don’t see any retaliatory measures of that nature. On the other hand, we buy more from them. So, if they impose retaliatory measures, they’ll be shooting themselves in the foot,” the official told the press on Tuesday.
Retaliatory measures against Mexico
The initiative to reform the General Import and Export Tax Law proposes a significant adjustment. It proposes tariff increases on 1,463 classifications of products originating in countries without free trade agreements.
These goods belong to 17 strategic sectors. The measure marks a significant expansion compared to last year, when the increases covered about 500 tariff lines.
The initiative must be approved by Congress. It reiterates about 41% of the tariff increases applied in 2024 by decree. The remaining 59% corresponds to new classifications that are now included in the law.
Deficit
Ebrard explained that one of the purposes of the import taxes that the Mexican government intends to impose on countries without free trade agreements is to reverse the increase in Mexico’s trade deficit with Asia.
“What is the main reasoning behind the tariffs? The growth of our deficit with Asia. From 2020 to 2024, it grew by 83%. If we don’t take action, there will be no way to finance that,” Ebrard said.
From January to July 2025, exports of Mexican products to the Asian market totaled $17.793 billion, while imports of Asian products to Mexico totaled $157.026 billion, according to data from Inegi.
The following is the balance of Mexico’s trade balance with Asia, in millions of dollars:
- 2019: -140,895.
- 2020: -121,999.
- 2021: -163,847.
- 2022: -197,071.
- 2023: -196,155.
- 2024: -223,349.
Comparing Mexico’s trade deficit with Asia from January to July 2025 with the same period in 2019, there was an increase of 73.7 percent.
These are Mexican imports of goods originating in Asia, in millions of dollars:
- 2019: 166,307.
- 2020: 146,530.
- 2021: 193,379.
- 2022: 229,419.
- 2023: 224,985.
- 2024: 253,687.