On April 8th, Mexican President Simbaum stated on April 7th local time that he did not rule out the possibility of retaliatory tariffs on the 25% steel and aluminum products tariffs imposed by the United States, but promised to make every diplomatic effort to seek an agreement to avoid pushing up domestic prices. Simbaum said that Economy Minister Ebrard will travel to Washington this week to continue consultations with the US government. Mexico will avoid implementing retaliatory tariffs as much as possible and continue dialogue to protect Mexican industry and businesses before taking other measures. According to data from the US International Trade Administration, Mexico is the third largest source of steel imports for the United States, after Canada and Brazil. In 2024, Mexico will export 3.2 million tons of steel to the United States.
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