Mexico's Negotiation on U.S. Tariffs: A Trade Balancing Act

Mexico is set to negotiate with the U.S. over newly imposed tariffs on steel and aluminum following a temporary suspension. Economy Minister Marcelo Ebrard aims to resolve the issue, citing the imbalance in U.S.-Mexico imports. The upcoming discussions could affect up to 90% of Mexico's exports.

Mexico plans to engage in negotiations with the United States regarding the recent implementation of steel and aluminum tariffs, according to a senior official who spoke on Friday. This follows an initial success with a pause placed on most shipments coming from Mexico.

Scheduled talks between Mexican and U.S. trade officials aim to address these tariffs. Mexico's Economy Minister Marcelo Ebrard, speaking at a press conference with President Claudia Sheinbaum, highlighted the significant import imbalance between the two nations. 'Mexico imports more than what the U.S. imports from Mexico,' noted Ebrard, underscoring the lack of justification for these tariffs.

The tariffs are part of U.S. President Donald Trump's strategy to lower the trade deficit, featuring plans for reciprocal tariffs starting April 2. However, Mexico and Canada successfully negotiated a tariff pause under their trilateral trade agreement with the U.S. as they continue discussions to adjust the percentage of exports aligned with USMCA norms.

(With inputs from agencies.)