MEXICO CITY (Reuters) - Mexican state company Pemex is in talks with potential buyers in Asia, including China, and Europe, as it seeks alternative markets for its crude after U.S. President Donald Trump imposed tariffs on imports, a senior Mexican government official said.

Mexicos state-owned oil giant Pemex is actively seeking new buyers in Asia and Europe after U.S. President Donald Trump imposed a 25% tariff on Mexican crude imports. A senior government official confirmed that talks

In response to Trump’s tariffs, Mexico is exploring Asian and European markets to secure new crude oil buyers.

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South Korea's factory output fell in January, while corporate investment also dropped, government data showed on Tuesday, in another sign of growing uncertainty over U.S. tariffs and their ripple effects across the global supply chain.

While Trump's tariffs target the three countries to address trade imbalances, nations with the highest trade surpluses with the U.S. are also seen as at risk of further tariffs. In Asia, China, Vietnam, Japan, and Taiwan have the largest trade surpluses with the U.S., according to a recent U.S. Treasury report.

South Korea’s consumer inflation for February rose 2% year on year, more than Reuters estimates of a 1.95% increase.

President Trump’s first few months in office have been filled with sweeping economic policies that overturned the United States’s norms for international trade agreements with countries including