Mexico Central Bank Sounds Note of Caution on Trump Tariffs
- Disinflation progress has led to cuts but they’re wary of 2025
- Banco de Mexico members still open to larger reductions in ‘25
The Bank of Mexico headquarters in Mexico City.
Photographer: Victoria Razzo/BloombergThis article is for subscribers only.
Several members of Mexico’s central bank expressed concern about the inflationary impact of tariffs that could be imposed by US President-elect Donald Trump after he takes office on Jan. 20.
Members of the Banco de Mexico board said that the 25% tariffs that Trump pledged in November to impose on Mexico and Canada have created additional uncertainty for the economy, according to the minutes of the Dec. 19 monetary policy decision published Thursday. Despite the board’s willingness to forge ahead with cuts, tariffs and other factors led to notes of caution.