The Mexican government did not announce on Monday retaliatory tariffs against the United States for the 25% general tariff ordered the day before by President Donald Trump on U.S. steel and aluminum imports.
In a conference at the National Palace, Mexican President Claudia Sheinbaum did not immediately react with retaliatory tariffs.
Background: Sheinbaum has offered to cooperate with the United States, but has also warned that, if appropriate, she will respond with retaliatory U.S. tariffs.
Sheinbaum said in a letter to Trump last November: “To one tariff, will come another in response and so on until we put common businesses at risk. Yes, common. For example, Mexico‘s main exporters to the U.S. are General Motors, Stellantis and Ford Motor Company, which came to Mexico 80 years ago. Why put a tax on them that puts them at risk? It is not acceptable and would cause the U.S. and Mexico inflation and job losses.”
Retaliatory Tariffs
This Monday, in the same conference with Sheinbaum, the Secretary of Economy, Marcelo Ebrard, announced that he will hold meetings next week with his US counterparts, once they are ratified: the Secretary of Commerce, Howard Lutnick, and the head of the United States Trade Representation (USTR), Jamieson Greer.
Reminder: Trump on Monday ordered the imposition of a 25% tariff on all steel and aluminum imports into the United States, eliminating exceptions for several countries, including Mexico, that had previously been granted by both Trump himself in his first term as president and his successor, Joe Biden.
“We have many, many things to say (to Lutnick and Greer). Today I mentioned only about steel and aluminum, but we have made a very detailed analysis of what is happening in trade and investment between the two countries in recent years, as well as what is convenient to do, according to what the president has asked us,” Ebrard said.
Bilateral negotiations
On February 3, 2025, Trump gave Mexico and Canada an ultimatum. He gave them one month to improve cooperation with the United States regarding migration and drug trafficking. The main drug focus is fentanyl. If they do not comply, the United States will apply a general tariff of 25%. In addition, imports of energy products from Canada will be subject to an additional 10 percent tariff.
Since February 4, 2025, the United States has implemented an additional 10% tariff on all Chinese products. This measure provoked countermeasures from China. The Asian country has decided to impose a 15% tariff on coal and liquefied natural gas (LNG). It will also apply 10% to products such as crude oil, agricultural equipment, some trucks and sedans with large engines.