• Mexico is actively considering imposing new tariffs on imports from countries with which it lacks a formal trade agreement, a direct response to recent U.S. tariff actions.
  • The move comes amid a 90-day negotiation window following a bilateral agreement that temporarily suspended new U.S. tariffs on Mexican goods, with the long-term outcome still uncertain.
  • If implemented, the tariffs could significantly disrupt North American supply chains, increase costs for consumers and manufacturers, and contribute to a broader wave of global protectionist measures.

Mexico is actively considering imposing new tariffs on imports from countries with which it does not have a formal trade agreement, according to people familiar with the matter. The potential policy shift represents a significant escalation in global trade tensions and is a direct response to recent U.S. executive orders that have upended longstanding North American trade dynamics.

The deliberation follows a July 12, 2025, announcement by the U.S. of a large new tariff on Mexican imports, which was subsequently suspended for 90 days pending a new trade agreement. In exchange for the suspension, Mexico has committed to removing existing non-tariff barriers affecting U.S. goods. However, the threat of tariffs from its largest trading partner has prompted Mexican officials to explore reciprocal measures and adjust their own tariff policies, targeting nations without bilateral or multilateral trade accords.

This potential move is being framed as both a negotiation tool and a protective measure. "The objective is to secure fair treatment for Mexican exports and respond to international tariff threats," said one official, who asked not to be identified because the discussions are private. The tariffs would be designed to leverage Mexico's position while negotiations with the U.S. continue over the next three months.

The economic stakes are enormous. Two-way trade between the U.S. and Mexico reached $840 billion in 2024, making Mexico the United States' largest trading partner. Regional economies, particularly Texas, would be highly vulnerable to any disruption in this flow of goods. Elevated tariffs would significantly affect trade flows, especially with countries not covered by the United States-Mexico-Canada Agreement (USMCA), and could incentivize supply chain shifts and regionalize production.

The U.S. tariffs were enacted using broad presidential powers under the International Emergency Economic Powers Act (IEEPA), a move that bypassed some limitations of the USMCA and has fueled intense political negotiations. Mexico's counter-consideration mirrors a global trend, with other nations like Costa Rica, Côte d’Ivoire, and the European Union also implementing reciprocal tariffs in response to recent U.S. policies.

If talks between the U.S. and Mexico fail within the 90-day suspension period and reciprocal measures escalate, analysts warn trade volumes could drop sharply. This would impact everything from automotive manufacturing to agricultural exports, potentially leading to inflationary pressures in both economies. The public debate in Mexico has already centered on themes of economic sovereignty and the need to protect local industries while diversifying export markets.

Efforts to reach a spokesperson for Mexico's economy ministry for comment were not immediately successful.