Mexico, which ships nearly 80 per cent of its exports to the United States, was not included on Trump’s list of global, across-the-board tariffs announced on nations last week, which Sheinbaum hailed as a major success.

Still, Mexico is subject to Trump’s previously imposed tariffs of 25 per cent on steel, aluminum and automobiles, as well as on goods that do not comply with the CUSMA trade pact.

“As much as possible, we would like to avoid imposing reciprocal tariffs,” Sheinbaum said in a morning press conference.

She added that Economy Minister Marcelo Ebrard would travel to Washington to meet with U.S. officials, as he has done in recent weeks.

Sheinbaum said slapping a retaliatory tariff of 25 per cent on U.S. steel and aluminum shipments “would represent price increases in Mexico.”

“We aren’t ruling it out, but we prefer to continue with dialogue,” she added.

Mexican officials have said U.S. steel and aluminum tariffs are unjustified as Mexico imports more in the sector from the U.S. than it exports to the U.S.

The nation’s peso and main stock index weakened more than one per cent by mid-morning on Monday, part of a market plunge worldwide as Trump threatened to further increase tariffs on China.

The post Mexico seeks to avoid retaliatory tariffs against US, but not ruling them out appeared first on Alberta Farmer Express.

The United States, which for decades has exported large volumes of GM yellow corn to Mexican buyers, had objected to restrictions put in place by Mexico’s previous government to gradually ban such corn supplies from its northern neighbour.

Mexico, the birthplace of modern corn, has for years prohibited the commercial-scale planting of strains of GM corn, arguing that such varieties would contaminate native strains of the grain. But a long-running dispute has played out over the imports of GM corn, nearly all from U.S. suppliers and mostly used for Mexico’s massive livestock sector as well as other industrial uses.

In December, a trade dispute panel ruled that the Mexican government’s previously enacted restrictions violate the USMCA North American trade accord.

Mexico is a top foreign market for U.S. corn farmers.

On Thursday, President Claudia Sheinbaum told reporters that her government is actively reviewing a possible reform that would enshrine the prohibition on planting GM corn into the constitution.

The post Mexico formally repeals restrictions on GM corn after trade panel ruling appeared first on Alberta Farmer Express.