Mexico is delaying retaliatory tariffs on U.S. steel and aluminum imports as diplomatic negotiations continue. President Sheinbaum is waiting for the U.S. decision on potential tariffs, contrasting Canada’s immediate response. Economy Minister Ebrard is in Washington for discussions, and Brazil also plans to negotiate before retaliating.
Mexico is currently postponing its response to recently imposed U.S. tariffs on steel and aluminum imports. President Claudia Sheinbaum has opted for a delay in retaliation as diplomatic negotiations are ongoing to potentially avoid additional levies on a broader spectrum of goods and services.
On March 12, President Sheinbaum indicated her preference to wait for the U.S. President’s decision regarding the imposition of 25% tariffs on Mexican imports. These tariffs, part of a broader U.S. strategy aimed at compelling neighboring countries to combat illegal immigration and fentanyl trafficking, will remain on hold until April 2, particularly affecting products under North America’s free trade agreement.
Unlike Canada, which swiftly announced 25% counter-tariffs on approximately $21 billion of U.S. goods, Mexico is demonstrating restraint in its approach. “Given that we have a trade agreement and there are no tariffs from Mexico to the United States, well, there shouldn’t be any reciprocal tariffs,” stated Sheinbaum at her daily press conference.
During this critical period, Mexico’s Economy Minister, Marcelo Ebrard, along with other officials, has been engaged in discussions in Washington regarding the steel and aluminum tariffs. Ebrard is anticipated to address the press following Sheinbaum’s update on March 13. Meanwhile, Brazil has indicated a similar cautious stance, vowing to respond to new U.S. tariffs only after attempts to negotiate with the Trump administration.
In summary, Mexico is strategically delaying its retaliation against U.S. tariffs on steel and aluminum while engaging in diplomatic negotiations. President Sheinbaum’s measured approach contrasts with Canada’s immediate response, emphasizing the importance of the existing trade agreement. As discussions continue, both Mexico and Brazil are considering their responses to U.S. tariffs carefully, underscoring the complexities of international trade relations. This situation remains dynamic, with potential impacts on a wide range of industries.
Original Source: www.ttnews.com
