Juan Pablo Spinetto, Columnist

Mexico’s Secret Weapon in the Trade War? Its Popular President

Claudia Sheinbaum has a strong political hand if the White House persists with tariffs on its main trading partner, a strategic mistake of historic proportions.

March 5, 2025 at 5:30 AM EST

By Juan Pablo Spinetto

JP Spinetto is a Bloomberg Opinion columnist covering Latin American business, economic affairs and politics. He was previously Bloomberg News’ managing editor for economics and government in the region.

What a real mandate looks like.
Photographer: Alfredo Estrella/AFP/Getty

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Claudia Sheinbaum is all smiles.

It may sound odd, but the Mexican president announced her plans to retaliate against Donald Trump’s trade tariffs Tuesday with a big grin on her face. If Sheinbaum is feeling the pressure from an atomic bomb hanging over the Mexican economy, it just doesn’t tell.