Mexico City, March 3 (Reuters) - Mexico's President stated on Monday that Mexico is prepared to wait and observe whether U.S. President Donald Trump will follow through with his threat to impose tariffs on Mexico. President Claudia Sheinbaum, addressing the media in a morning press conference, mentioned that Mexico has contingency plans in place in case the tariffs are imposed.

Sheinbaum asserted that Mexico is ready for any scenario, stating, "We have a plan B, C, D," without elaborating on the specifics of these plans.

Recent discussions between Mexican and U.S. officials in Washington aimed to address trade and security policies in an effort by Mexico to avoid tariffs. President Trump has criticized Mexico and Canada for their perceived inadequate actions against the flow of synthetic drugs like fentanyl and migrant crossings at their borders with the U.S., threatening significant tariffs if this does not change.

Overall, Sheinbaum characterized the meetings in Washington as "cordial" and expressed satisfaction with the level of coordination with the U.S. so far.