In his first weeks in office, President Trump announced new tariffs of 25% on all Mexican imports—along with similar measures for Canadian goods. This threat was quickly put on hold for 30 days, contingent on Mexico’s implementation of specific programs aimed at reducing illegal immigration and drug trafficking across the Mexico–U.S. border. If these tariffs are ultimately imposed, there’s a strong possibility that Mexico will respond with its own duties on U.S. imports. This back-and-forth has created significant uncertainty for businesses on both sides of the border, potentially affecting the rest of 2025. While the impact on traditional import/export operations is evident, it may seem less pressing for tech startups.

However, tariffs don’t just affect direct trade—they can also trigger significant currency fluctuations. For instance, new tariffs could drive a depreciation of the Mexican peso, which would raise costs for any startup importing materials or services priced in dollars—even if those imports aren’t coming directly from the United States. Startup founders should begin taking defensive measures now to avoid unexpected fallout.