This was announced by Mexico's Secretary of Economy at this Thursday's morning press conference.
Mexico is seeking the best U.S. deal with any country regarding the implementation of tariffs ordered by President Donald Trump, Economy Secretary Marcelo Ebrard announced Thursday.
At a press conference this Thursday morning at the National Palace, Ebrard argued that President Claudia Sheinbaum's administration is pursuing this goal because Mexico is the country most integrated with the United States, even more so than Canada.
"We will act with composure, firmness, and to achieve the best possible position," the official said.
Ebrard described it as a "bad idea" that Mexico was not excluded from the 25% tariff on U.S. imports of steel, aluminum, and products derived from both metals originating around the world, which went into effect on March 12.
"Without President Sheinbaum's intervention with President Trump, all Mexican exports would be paying the 25% tariff today," said Ebrard Casaubón. He also emphasized that the Mexican economy is highly integrated with the US economy, so the imposition of tariffs affects various industries.
Regarding this, he announced that the Mexican government will begin a consultation process this Friday with representatives of the main affected industries, including the steel, automotive, and household appliance industries.
Also, since March 4, U.S. customs have implemented a 25% tariff on imports originating in Mexico and Canada if they do not comply with the rules of the free trade agreement between these three nations (T-MEC).
"We're going to use all the tools we have, depending on what's best for Mexico," Ebrard said, adding that the Mexican government will weigh its decisions based on what the Trump administration determines, especially regarding its "reciprocal tariffs" policy.
The U.S. Department of Commerce is expected to submit a comprehensive trade deficit study to Trump on April 2 and make recommendations on tariffs. On that date, the reciprocal tariffs are scheduled to go into effect.
Ebrard indicated that Mexico's Undersecretary of Foreign Trade, Luis Rosendo Gutiérrez, will hold in-person meetings with U.S. officials in Washington in the coming days.
He also commented that the Mexican government "will not make rash decisions" and that dialogue will be a daily occurrence.
Ebrard ruled out the possibility that the increase in tariffs on steel and aluminum imports would lead to a relocation of manufacturing companies to the United States, as this did not occur in 2018, when U.S. employment did not increase as a result of the tariff measures.
The Secretary of Economy also emphasized that intensive negotiations will be held with U.S. authorities and that Mexico will seek a more favorable position than other countries. However, he declined to provide details about the ongoing talks, arguing that it would be "imprudent."
"We're going to have very intense talks over the next few weeks, presenting Mexico's views based on what I just told you. The integration with Mexico is exceptional. There's no other country, not even Canada, that doesn't have the economic integration that Mexico and the United States have," he mentioned.
He added that an immediate effect of the new tariffs will be higher global prices, which will reduce international trade by reducing demand.
He indicated that one of the effects of the 25% tariff imposed on aluminum and steel by the Trump administration, for example in the automotive sector, would have an impact on the prices of these items in the neighboring country.
"What is the second effect? As prices rise, demand will be reduced; I mean, international trade in steel and aluminum will be reduced. So, the measure is being taken, as explained by the US authorities themselves, to reduce the deficit and thereby increase production in the US, but the cost they will have to pay is higher prices and difficulties integrating what you use every day, for example, household appliances," the secretary explained.
For her part, Mexican President Claudia Sheinbaum explained that the discussions with U.S. authorities have raised the need to continue economic integration, respecting sovereignty and allowing the region to compete with the rest of the world.
"If the United States decides differently on April 2, it won't just be if you impose tariffs on me, I'll reciprocate, because Mexico practically has no tariffs on US products due to the trade agreement. If there's anything different, then we'll also take our measures, but we'll wait for the general framework we reach by April 2. And we'll keep you informed," the head of the federal executive branch warned.
Ebrard mentioned that the retaliatory tariffs announced by the European Union are scheduled for April 1 and 13, a delay intended to determine how the Trump administration's changes to reciprocal tariffs will be shaped and approved.
On Wednesday, the European Union announced that it will impose tariffs on US products worth 26 billion euros (about US$28.33 billion) starting next month.
For its part, Canada announced retaliatory tariffs of 25% on goods including steel, aluminum, computers, and other products worth a total of 29.8 billion Canadian dollars (US$20.675 billion).
The tariffs include 12.6 billion Canadian dollars (US$8.741 billion) in U.S. steel, 3 billion Canadian dollars (US$2.081 billion) in aluminum, and 14.2 billion Canadian dollars (US$9.851 billion) in other U.S. products, such as computers, sporting equipment, and cast iron products.
These new measures are in addition to the 30 billion Canadian dollars (US$20.813 billion) in tariffs that Canada imposed on U.S. products on March 4.
