LatinNews Daily - 14 April 2025

Mexico/Region: On 3 April Mexico’s President Claudia Sheinbaum celebrated the country’s exemption from the “reciprocal tariffs” implemented by US President Donald Trump the previous day, when he slapped a 10% global baseline tariff on over 180 countries. Mexico however remains subject to tariffs targeting the automotive sector and steel and aluminium imports. Furthermore, while Mexican goods compliant with the US-Mexico-Canada Agreement (USMCA) remain tariff free, non-USMCA compliant goods continue to see a 25% tariff and non-USMCA compliant energy and potash, a 10% tariff. The rest of the region faces 10% tariffs. Initially Guyana, Venezuela, and Nicaragua faced higher tariffs of 38%, 15%, and 18% respectively but on 9 April President Trump announced a 90-day pause for countries facing higher tariffs (bar China). Announcing the tariffs on 2 April, President Trump did not appear to distinguish between countries in the region led by allies such as Argentina’s President Javier Milei and El Salvador’s Nayib Bukele, and those led by antagonists such as Brazil’s President Luiz Inácio Lula da Silva and Colombia’s President Gustavo Petro. With President Trump warning that retaliations would result in an increase in tariffs, many countries opted for muted response, with most pressing for negotiation and dialogue.

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