Mexico President Claudia Sheinbaum Tells Trump, 'We're No One's Pinata'
Last edited Thu Jul 3, 2025, 07:24 PM - Edit history (1)
Published Jun 26, 2025 at 2:38 PM EDT
Updated Jun 26, 2025 at 5:41 PM EDT
Mexican President Claudia Sheinbaum said, "we're no one's piñata," Thursday, blasting the Trump administration's decision to sanction three Mexican financial institutions over money laundering allegations.
"We aren't going to cover for anyone...but they have to demonstrate that there was actually money laundering—not with words, but with strong evidence," she said during her morning briefing.
"We're no one's piñata," she added. "Mexico must be respected."
Why It Matters
The dispute comes at a time of heightened scrutiny over the role of international financial networks in fueling the U.S. fentanyl crisis. Chinese companies are widely acknowledged as the main source of precursor chemicals for fentanyl production. Mexico, long grappling with powerful drug cartels operating with significant impunity, has become a key transit and production hub.
U.S. officials argue that financial institutions in Mexico are being exploited—knowingly or not—by both cartels and Chinese firms seeking to circumvent American regulators. Treasury Secretary Scott Bessent wrote on X that "Cartels have exploited Mexico-based financial institutions to move money, enabling the vicious fentanyl supply chain."
What To Know
Sheinbaum, who became Mexico's first female president and has successfully navigated the complex relationship between her government and the Trump administration, defended the nature of Mexico's financial ties to China, arguing that they reflect a growing trade relationship, not criminal complicity.
"Their own investigation simply showed that institutions had strong relationships with Chinese clients and banks," she said. "That's not evidence of wrongdoing—it's trade."
More:
https://www.newsweek.com/mexico-claudia-sheinbaum-trump-banks-sanctions-update-2091276
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