Mexico is bracing for a possible economic blow, after President Donald Trump’s announcement that he will put a 25% tariff on steel and aluminum.
After striking a deal with Trump to delay a tariff on all its exports into the United States, Mexico is now preparing for a tariff on steel and aluminum exports across the border.
Mexico’s Economy Secretary Marcelo Ebrard said Tuesday that Trump’s tariff proposal isn’t justified, since Mexico actually brings more U.S. steel into the country than it exports.
He also pointed out that the tariff would affect the auto industry. Many cars and trucks cross the border several times before being sold in the United States, and a steel tariff could increase prices for consumers.
