Mexico offers U.S. an alternative to tariff hikes on Mexican goods

Mexico has proposed to the United States an alternative to tariff hikes on Mexican products, President Claudia Sheinbaum said Thursday.
“We made a very concrete proposal, and they are analyzing it, and we hope this will help us resolve the issue moving forward,” Sheinbaum said at her daily press conference as U.S. President Donald Trump threatened to impose a 30 percent tariff on Mexican imports starting Aug. 1.
The proposal, based on the government’s Plan Mexico, seeks to reduce the trade deficits between the two countries without jeopardizing nearshoring or exports, the president said, adding that Mexico will wait through early next week for Washington’s response.
They “do not want this gap between what the United States exports to Mexico and what Mexico exports to the United States to continue to increase,” Sheinbaum explained, suggesting that the trade deficits, among the Trump administration’s main concerns, can be reduced through different mechanisms with the level of exports maintained.