On 1 February, US President Donald Trump announced a 25% tariff on imports of Mexican and Canadian products, as well as a 10% levy on Chinese goods, to come into effect on 4 February. The menace of the tariffs for Mexico lasted less than 30 minutes after the next trading day opened 3 February, and for Canada only a few hours longer. A commitment from the Mexican government has paused the implementation of the tariffs for at least 30 days.

Although you could argue that this is all related to Trump’s negotiating techniques, we believe that it nonetheless helps to analyze how tariffs could impact each of the Mexican credits under Debtwire’s coverage.