Mexico City, Mexico — After the US announcement of import tariffs being applied to Mexico, Mexico has responded saying they too, will impose equivalent measures to a diverse range of US products including steels, meat, fruit and cheeses, to name a few.
The news came after the announcement that US president Trump intends to go ahead with this year’s earlier threat of import tariffs on steel and aluminum. The tariffs are expected to be put into place for June 1.
The decision of the White House will probably have an immediate impact on global trade in steel and aluminum, particularly between the United States and Canada, the main supplier of steel to the United States, however, Mexico is the main buyer of aluminum and the second of steel in the United States.
In April, the Trump administration extended until June 1 the exemption to Mexico, Canada and the European Union for the imposition of tariffs on its exports of steel and aluminum to the United States.
In mid-May, US Trade Secretary Wilbur Ross said President Trump would decide whether to extend tariff exemptions to Mexico or Canada, depending on the status of the North American Free Trade Agreement (NAFTA) negotiations.
The US Chamber of Commerce Vice President of International Affairs Myron Brilliant says, “The United States should not expand import tariffs on steel and aluminum imports to additional countries as of June 1, as it has been threatened,” adding “Such an action would impact US manufacturers with higher costs, slower growth in the construction sector and put a brake on job creation in both key industries,” he said.
Mexico’s Secretariat of Economy says the measure will be in force until the US government eliminates the imposed taxes. The secretary says Mexico has repeatedly stated that this type of measures under the criterion of national security “are not adequate or justified.”