Mexico will engage in negotiations with the United States over the newly imposed tariffs on steel and aluminium, Economy Minister Marcelo Ebrard announced on Friday. This comes after Mexico secured a reprieve, with the US pausing tariffs on most shipments from the country.
Ebrard, speaking at a press conference alongside President Claudia Sheinbaum, emphasised that the tariffs lack justification. “Mexico imports more than what the US imports from Mexico. We’re having discussions because there’s no reason for tariffs on aluminium and steel,” he said.
US push for trade deficit reduction
President Donald Trump has defended the tariffs, arguing they are necessary to reduce the US trade deficit. He has pledged to implement reciprocal tariffs on all nations starting April 2. However, both Mexico and Canada have temporarily secured exemptions until that date under the US-Mexico-Canada Agreement (USMCA).
Ebrard noted that over half of Mexico’s exports currently fall under the USMCA agreement, with more firms likely to shift their shipments under its provisions. This figure could rise to 85-90% in the coming weeks. However, he acknowledged challenges for certain industries, particularly the auto sector, in meeting USMCA requirements.
Mexico plans to meet with businesses struggling to comply with USMCA regulations, particularly in the auto industry, to assist them in adjusting to the new trade landscape.
(With agency inputs)