Former U.S. President Donald Trump announced plans to impose 25% tariffs on countries that maintain trade relations with Iran, following recent protests in the Middle Eastern nation. Details regarding the scope and implementation of the measure have not yet been disclosed.
According to activist reports, the protests in Iran have resulted in at least 646 deaths as of January 12. While Trump stated that Tehran is seeking negotiations with Washington, Iranian authorities have not issued an official response and have accused foreign interference in the unrest.
Countries such as India, Turkey, and China would likely face the greatest exposure due to their higher levels of trade with Iran. In contrast, Mexico’s exposure would be minimal, given the limited scale of bilateral commerce.
Data from Mexico’s Ministry of Economy show that Iran accounts for just 0.00006% of Mexico’s exports and 0.00043% of its imports. In October of last year, Mexico exported $103,000 worth of goods to Iran and imported $237,000, resulting in a monthly trade deficit of $134,000.
Throughout 2024, Mexican imports from Iran totaled $5.46 million, while exports to the country reached only $169,000. Over the past 20 years, imports exceeded $50 million in only two years: 2012 and 2017.
Key imports from Iran include integrated electronic circuits, polypropylene polymers, leather goods, spices, processed foods, and household glassware. At the regional level, Sinaloa, Chihuahua, and Mexico City account for most of these imports.
So far, it remains unclear whether the announced tariffs would have any practical effect on Mexico, given the low volume of trade. The Mexican federal government has not commented on the issue.
Source: El Financiero
