Proposed Tariffs by the US Could Cost 400,000 American Jobs

Mexico's Economy Minister Marcelo Ebrard warned on Wednesday that significant job losses and economic consequences could arise if the U.S. implements a 25% tariff on all imports, as proposed by President-elect Donald Trump. According to reports, Ebrard estimated that such tariffs could lead to a loss of 400,000 jobs in the U.S. and slow down economic growth.

Ebrard emphasized that these tariffs would particularly affect major automotive companies like Ford, General Motors, and Stellantis, which are deeply integrated into cross-border trade. Speaking at a press conference, he highlighted the negative impact of the proposed tariffs on vehicle prices, predicting that consumers might face increases of thousands of dollars. Ebrard called for greater regional cooperation and integration instead of entering into a conflict over rising import duties.

Recognized as the U.S.'s largest trading partner, Mexico holds a significant share in the automotive industry, which is critical for the country's production sector. This industry is responsible for nearly a quarter of all vehicle production in North America and primarily exports to the U.S. market.

Following Trump's announcement regarding tariffs, Mexican President Claudia Sheinbaum advocated for dialogue and cooperation between the two countries.