Mexico Holds Off on Immediate Retaliation Against US Tariffs on Steel and Aluminum
President Claudia Sheinbaum announces a wait-and-see approach following the imposition of tariffs by the United States.
Mexico's President Claudia Sheinbaum announced on Wednesday that her administration would defer any response to the newly imposed tariffs on steel and aluminum exports by the United States until April 2. During her regular morning press conference, Sheinbaum stated, "We will wait until April 2 to see if we need to take any actions that are reciprocal, just as the United States government is doing."
Sheinbaum recalled a conversation she had with former President Donald Trump last week, in which both her government and Canada successfully negotiated a delay on a general 25% tariff on exports to the United States under the United States-Mexico-Canada Agreement (USMCA), in which all three countries participate.
Reflecting on the prior agreement, she expressed hope that since there are no tariffs imposed by Mexico on the United States, there would not be reciprocal tariffs either.
Despite existing trade agreements, the tariffs from Washington, effective from Wednesday, also encompass Mexico and Canada.
The Mexican government is currently assessing its options, with Sheinbaum stating that they would decide on reciprocal tariffs for aluminum and steel after the aforementioned date.
According to the National Chamber of Iron and Steel Industry (Canacero), Mexico ranks as the 14th largest steel producer globally, with approximately 77.5% of its finished steel products exported to the United States.
Sheinbaum recalled a conversation she had with former President Donald Trump last week, in which both her government and Canada successfully negotiated a delay on a general 25% tariff on exports to the United States under the United States-Mexico-Canada Agreement (USMCA), in which all three countries participate.
Reflecting on the prior agreement, she expressed hope that since there are no tariffs imposed by Mexico on the United States, there would not be reciprocal tariffs either.
Despite existing trade agreements, the tariffs from Washington, effective from Wednesday, also encompass Mexico and Canada.
The Mexican government is currently assessing its options, with Sheinbaum stating that they would decide on reciprocal tariffs for aluminum and steel after the aforementioned date.
According to the National Chamber of Iron and Steel Industry (Canacero), Mexico ranks as the 14th largest steel producer globally, with approximately 77.5% of its finished steel products exported to the United States.
