The President of Mexico says, "If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen. From the U.S. to Mexico."pic.twitter.com/HkxRW2YUot
— Thomas Sowell Quotes (@ThomasSowell) June 10, 2025
Mexican President Claudia Sheinbaum is pushing back against the proposed remittance tax, making it clear that Mexico will not accept new financial barriers on money transfers. She warned that if the U.S. moves forward with the plan, Mexico will mobilize to fight back.
The numbers show why this issue is heating up. Remittances sent from the U.S. to Mexico totaled $64.7 billion last year, making up 4 percent of Mexico’s GDP. These payments are critical for millions of families who depend on them for daily necessities. The proposed 3.5 percent tax on transfers would strip billions away, forcing senders to look for alternative ways to send funds.
Sheinbaum’s government is already responding. A Mexican delegation is meeting with U.S. lawmakers in Washington, urging them to block the tax before it moves forward in budget negotiations. Officials argue that targeting remittances will harm both economies and may even push more people to migrate illegally as they lose financial stability.
Sources
https://mexiconewsdaily.com/news/president-senate-reject-remittance-tax