Mexico considers retaliatory tariffs after U.S. steel & aluminum tax hike

KATHMANDU: Following the United States’ decision to increase tariffs on all steel and aluminum imports by up to 25%, Mexican President Claudia Sheinbaum announced that Mexico would decide by April 2 whether to impose reciprocal tariffs.

Mexican Finance Minister Marcelo Ebrard described the tariff hikes as unfair.

Mexico’s steel exports to the United States have been declining since 2022, while U.S. imports of steel have been on the rise.

On March 4, U.S. President Donald Trump revealed the 25% tariff on Mexico, a move that analysts warn could present significant challenges for both economies, given that nearly 80% of Mexico’s exports go to the United States.