CANACERO Urges Retaliatory Tariffs as Trump Targets Steel

The National Chamber of the Iron and Steel Industry (CANACERO) has called on Claudia Sheinbaum’s administration to impose retaliatory tariffs if Donald Trump does not exempt Mexican steel and aluminum from US duties. In response to escalating trade tensions, Minister of Economy Marcelo Ebrard is scheduled to travel to the United States to engage with key officials and advocate for Mexico’s position on the matter.

CANACERO denounced the measure as unilateral, unjustified, and damaging to regional competitiveness, warning that it would disrupt North America’s industrial supply chain. “These tariffs put at risk 75% of Mexico’s steel exports, valued at US$2.1 billion, jeopardizing jobs and critical investments in our country. If Mexican steel is not excluded from these tariffs, reciprocal measures on US steel products will be necessary" the chamber cautioned.

CANACERO emphasized that the United States benefits significantly from its steel trade with Mexico, closing 2024 with a surplus of 2.3Mt. The United States currently holds a nearly US$6.9 billion trade surplus with Mexico in steel and aluminum, while it runs a US$9.6 billion deficit with Canada. The organization also underscored that unfair trade practices do not stem from Mexico but from regions outside the USMCA framework.

Trump defended the decision to impose tariffs as a necessary measure to counteract alleged unfair trade practices by countries such as Russia and China, which, he claimed, have exploited loopholes to circumvent existing duties. He further asserted that these new tariffs would be applied universally, without exceptions, covering all steel and aluminum products, including finished goods.

In response, Ebrard announced plans to meet with US Trade Representative nominee Jamieson Greer and Commerce Secretary nominee Howard Lutnick to discuss the implications of the proposed tariffs on Mexican exports.

Ebrard also dismissed the Trump administration’s assertion that Mexican steel and aluminum exports to the United States had surged by 1,687%, calling the claim baseless. “This argument lacks merit, even by President Trump’s own logic, as Mexico imports more steel from the United States than it exports,” he stated.

He further emphasized that Mexico remains the largest market for US steel exports, accounting for 52% of total shipments by the end of 2024. As a result, any retaliatory tariffs imposed by Mexico would have substantial repercussions for American steel producers.