Mexico’s Secretary of Finance and Public Credit Edgar Amador Zamora. Photo: Google

By KELIN DILLON

During his confirmation appearance before the Mexican Chamber of Deputies’ Finance and Public Credit Committee on Wednesday, March 12, Mexico’s Secretary of Finance and Public Credit, Edgar Amador Zamora, dismissed fears of a “tariff war” with the United States.

His statements come following U.S. President Donald Trump’s 25 percent tariffs on steel and aluminum – and the potential implementation of more robust tariffs on Mexican goods beginning April 2. 

“I don’t think there will be a tariff war. We have a very solid trade framework and stable fiscal policy, which will insulate us from any volatility,” said Amador Zamora at the time.

Amador Zamora also acknowledged the “Trump effect” has created market uncertainty but emphasized that President Claudia Sheinbaum is committed to maintaining a robust fiscal policy to navigate these challenges. 

The committee unanimously endorsed Zamora’s ratification, and his swearing-in ceremony took place later that day in front of the Chamber of Deputies.

Sheinbaum likewise addressed the tariffs in a press conference on Wednesday, confirming that her administration will not take immediate retaliatory action and will wait until April 2 to evaluate the situation further. 

“We have very good relations with steel and aluminum manufacturers, and we’ll decide on any reciprocal tariffs depending on how things unfold,” she said. 

Economy Secretary Marcelo Ebrard and Amador Zamora will continue negotiations with U.S. Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent to reach a resolution before the April deadline, the federal executive added. 

“Given that we have a trade agreement with no tariffs from Mexico to the U.S., there should be no need for reciprocal tariffs,” concluded Sheinbaum.