During a press conference, President Sheinbaum announced that her government would wait until April 2 to decide whether to implement reciprocal measures in response to the U.S. She stressed the importance of maintaining a respectful dialogue with the United States in ongoing bilateral meetings.
“We hope that, given that we have a trade agreement, there will be no need for reciprocal tariffs,” she said.
The Trump administration imposed 25% tariffs on steel and aluminum imports on March 12, affecting 11 major producers as of March 12, 2025. According to data from the Mexican Institute for Competitiveness (IMCO), in 2024 Mexican steel and aluminum exports to the United States represented nearly $3 billion dollars, equivalent to 6.8% of total exports. The imposition of these tariffs could significantly reduce these figures, affecting key sectors of the Mexican economy.
Meanwhile, the Secretary of Economy, Marcelo Ebrard, is in Washington leading negotiations with U.S. officials and industry representatives. Ebrard has indicated that the Mexican government is evaluating all available options to mitigate the tariffs’ impact and protect producers’ interests.
At the same time, business leaders in Mexico’s steel and aluminum sector have expressed concern about the potential economic repercussions. Some analysts predict that U.S. buyers will attempt to renegotiate prices with Mexican sellers, which could generate additional changes in the market. But, while U.S. steel and aluminum buyers might try to renegotiate terms with Mexican suppliers to manage costs, any significant changes would likely require broader trade negotiations between the two countries rather than short-term individual business agreements on discounts or temporary price reductions. By hitting all major metals providers with tariffs, Trump has cut off US buyers’ ability to switch suppliers, reducing their leverage on Mexico, which maintains a competitive advantage of proximity and lower shipping costs.
Despite the uncertainty, Sheinbaum was optimistic about reaching an agreement that would benefit both nations. She told reporters, “We are committed to strengthening our trade relations and finding fair and sustainable solutions for all.”