Mexico's equity market may be less vulnerable to President Donald Trump's tariff policy than macroeconomic data suggest and the 30-day delay of US tariffs has boosted sentiment.

A week after that, Trump signed an executive order imposing 25% tariffs on all steel and aluminium imports. These tariffs are set to take effect on March 12, a few days after the broad tariffs against Canada and Mexico supposedly come to pass.

As the trade war shows no signs of abating, the U.S. administration is considering expanding tariffs to include automobiles, pharmaceuticals, and chips. President Trump's recent announcement of a potential 25% tariff on these imports has fueled uncertainty,