Major steel-producing countries were blindsided this week when Trump signed an executive order doubling tariffs on steel and aluminum imports—from 25 percent to 50 percent.
While Mexico and Canada are currently exempt from duties on most exports to the United States under the USMCA trade agreement, steel and aluminum fall under a different legal authority. Canada remains the top steel supplier to the U.S., while Mexico ranks sixth. Both countries are highly vulnerable to economic fallout from the tariff hike.
Mexican President Claudia Sheinbaum was once again measured in her response to Trump’s latest move, calling the hike “unfair” and “unsustainable.” Nonetheless, she vowed to take countermeasures early next week “to protect Mexican jobs” if no agreement is reached.
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