Trump and Mexican President Claudia Sheinbaum are discussing tariffs. What should consumers expect?
Nov 29, 2024
President-elect Donald Trump and Mexican President Claudia Sheinbaum both agree that their conversation on Wednesday was a "positive" one, but from there, their accounts start to diverge.Trump claims Sheinbaum agreed to "Stop migration through Mexico," but Sheinbaum says her country's stance is "not to close borders, but to build bridges."That conversation comes after Trump threatened to impose blanket 25% tariffs on all trade from Mexico when he takes office. With less than two months to go before President-elect Trump is sworn into office, what could this mean for the American public?Of all his planned policies, Trump's tariff threats are likely to have some of the most significant impact on consumers.Tariffs could affect a wide range of trade goods from Mexico including automobiles, computer parts and food and drinks like avocados and tequila.Sheinbaum spoke to reporters in Mexico Thursday, saying there would not be a tariff war between the countries.RELATED STORY | Trump threatens to impose sweeping new tariffs on Mexico, Canada and China on first day in officeTrump largely used tariffs to promote American jobs and manufacturing during his first term. He is likely to use tariffs as a negotiation tactic to put more pressure on Mexico and Canada to suppress illegal immigration and the flow of illicit drugs even further.Immigration concerns at the southern U.S. border have cooled recently, with apprehensions lower now than at most points in President Biden's presidency.A recent Scripps News/Ipsos poll found some 45% of Americans would support stricter trade controls. Most of the support came from Republicans, following Trump's victory in the general election. That polling did not ask respondents about their specific feelings on the proposed blanket 25% tariffs.