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MEXICO: Sheinbaum Doesn’t Expect US To Impose Reciprocal Tariffs

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • Speaking at a rally in Mexico City yesterday, President Sheinbaum said that she is confident that the US won’t impose reciprocal tariffs on Mexican imports next month. Sheinbaum said that as Mexico does not have tariffs on US goods imports, there is no reason for the US to impose them on Mexico. Sheinbaum was speaking at an event to celebrate the pause in US tariffs, after all goods tied to the USMCA were granted another month extension to April 02 last week.
  • With USDMXN continuing to trade in a tight range Monday, BBVA says that while Mexico is far from being off the hook on the tariff front, a more reconciliatory tone could eventually see the pair test the lower end of the recent range, with 20.20 becoming more vulnerable. A much stronger rally, through the 20 handle, would probably require a more concrete deal to be agreed, in their view.
  • Consumer confidence figures for February will be released at 1200GMT(0800ET), with sentiment currently sitting at a 15-month low amid the ongoing tariff uncertainty. ANTAD same-store sales and nominal wage figures, both for February, may also cross today. The data highlight this week, however, with be January industrial production on Thursday, which is expected to show a 1.7% y/y decline in output at the start of the year.
    • Feb. Consumer Confidence, prior 46.7
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  • Speaking at a rally in Mexico City yesterday, President Sheinbaum said that she is confident that the US won’t impose reciprocal tariffs on Mexican imports next month. Sheinbaum said that as Mexico does not have tariffs on US goods imports, there is no reason for the US to impose them on Mexico. Sheinbaum was speaking at an event to celebrate the pause in US tariffs, after all goods tied to the USMCA were granted another month extension to April 02 last week.
  • With USDMXN continuing to trade in a tight range Monday, BBVA says that while Mexico is far from being off the hook on the tariff front, a more reconciliatory tone could eventually see the pair test the lower end of the recent range, with 20.20 becoming more vulnerable. A much stronger rally, through the 20 handle, would probably require a more concrete deal to be agreed, in their view.
  • Consumer confidence figures for February will be released at 1200GMT(0800ET), with sentiment currently sitting at a 15-month low amid the ongoing tariff uncertainty. ANTAD same-store sales and nominal wage figures, both for February, may also cross today. The data highlight this week, however, with be January industrial production on Thursday, which is expected to show a 1.7% y/y decline in output at the start of the year.
    • Feb. Consumer Confidence, prior 46.7