Mexico might impose retaliatory tariffs on the US next week if ongoing negotiations fail to resolve the US doubling its steel and aluminum import tariffs to 50% on Wednesday. Mexican President Claudia Sheinbaum denounced the tariffs as unfair, unsustainable, and not legal under existing trade agreements between the two nations.

Sheinbaum, who met with Mexican steel and aluminum groups Canacero and Canalum, prioritized protecting domestic workers and industry. Mexico was previously exempt from these Section 232 tariffs under the US-Mexico-Canada Agreement (USMCA). While Mexico has taken steps to decrease its own steel imports to address US concerns, Sheinbaum stressed any retaliation would be protective, not eye-for-eye.