The U.S. Department of Commerce announced today they would no longer exempt Mexico, Canada, and the European Union from their steel and aluminum tariffs , a decision set to provoke a reaction from his trading partners.
“We've decided not to extend the exemption for Canada, Mexico, and the EU , therefore, steel and aluminum imports from these countries will be subjected to a 25% and a 10% tariff,“ said Wilbur Ross, US Commerce Secretary, shortly before the deadline to ratify their decision.
According to sources consulted by two U.S. news outlets, it's possible the new tariffs enter into force and effect this Friday, June 1.
While tariffs were announced in March, the U.S. decided to place temporary exemptions for key trading partners yet as the renegotiation of the North American Free Trade Agreement (NAFTA) failed to conclude before June 1, the U.S. Government decided to push ahead with the tariffs.
Jean-Claude Juncker
, President of the European Commission, shared the following press release:
In response to the announcement, Mexico's Ministry of Economy announced they would impose “equivalent measures to several products on the face of the protectionist measures of the United States on steel and aluminum,” as reads the tweet of this Department below:
“Mexico deeply regrets and condemns the decision of the United States of imposing these tariffs to the steel and aluminum imports coming from Mexico, starting this June 1st, under the criteria of national security,” reads on the press release.
Some of the products mentioned in he press release issued today include flat steel, lamps, cold meats, graves, cranberries, cheese, among others.
The statement concludes by confirming Mexico remains open to a constructive dialogue with the U.S. and is supportive of an international trade system, yet they will continue to reject “unilateral protectionim measures.”
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