TIJUANA, Mexico (AP) — Mexican President Andrés Manuel López Obrador said he was reluctantly prepared to slap retaliatory tariffs on U.S. goods if negotiators in Washington had failed to strike a deal, addressing a boisterous celebratory rally Saturday in the border city of Tijuana.

The president's comments came shortly after his foreign minister and chief negotiator, Marcelo Ebrard, told the rally the country had emerged from the high-stakes talks that avoided U.S. tariffs on Mexico's exports with its "dignity intact."

López Obrador said that as an admirer of Gandhi, Martin Luther King and Ne...