Mexican Economy Secretary Says Country 'Did All It Had' To Avoid Trump's Tariffs

Mexican Economy Secretary Marcelo Ebrard said the country has done "all it had" to avoid U.S. tariffs from going into effect later this week.

Speaking at a conference on Tuesday, Ebrard said he was "optimistic" about the possibility that President Donald Trump won't impose 30% tariffs on imports from the country and asked people not to panic.

"Now we have to wait. My outlook is positive. We'll see what happens. It would be daring to give data, I can't do it, but my outlook is optimistic. We need to wait for Trump and his team to make a decision," Ebrard said.

Ebrard went on to say negotiations between the countries have been "very intense and complex" but recalled that most trade is already free from tariffs.

The official quickly reacted after Trump announced the tariffs earlier in July, saying it was already taking steps to address the matter. He noted on July 12 that Mexican delegation had already met with U.S. counterparts to kick off a "permanent binational working table in which the main topics of the relations will be addressed."

"Issues addressed included security, migration, border and water management, as well as the countries economic relations. It was conveyed to us that, as part of a deep change in the U.S. trade policy, all countries will receive a letter signed by the U.S. president establishing 30% tariffs as of August 1. We said it was an unfair deal and we disagreed with it," the document adds.

"It was agreed that the first great task of this table will be conducting the work so we come up with an alternative that allows the protection of companies and jobs on both sides of the border before that date. It is highly relevant having already established the necessary space to prevent any chance the measures will go into effect on August 1. In other words, Mexico is already negotiating," it adds.

Trump announced the tariffs in a letter to President Claudia Sheinbaum, saying Mexico had not done enough to prevent the region from becoming a "Narco-Trafficking Playground." "Mexico has been helping me secure the border, BUT, what Mexico has done, is not enough," he added.