Mariana Zepeda, practice leader for Latin America at FrontierView: “Mexico’s tariff plan marks Sheinbaum’s assertive pushback on trade, protecting domestic industry while challenging the free-trade consensus that has dominated since NAFTA. At the same time, Mexico faces a widening fiscal deficit driven by high social spending. Tariffs offer a dual benefit: They resonate with the government’s political base while providing much-needed revenues to shore up public finances. The choice of targets is both strategic and well-timed. By slapping steep tariffs (50 percent on automobiles and other goods from countries without preferential trade agreements, most notably China) Mexico is signaling alignment with the Trump administration’s view that Chinese economic influence in Latin America poses a threat. Targeting Chinese imports, particularly autos, speaks directly to U.S. concerns over China’s growing presence in Mexico’s market, even as it risks chilling Chinese investment, which had surged in recent years…”