Source: Baker McKenzie
US Doubles Metal Tariffs, Escalating Global Trade Tensions
The US has doubled tariffs on steel and aluminum imports to 50%, intensifying trade tensions. The move, part of President Trump’s broader tariff strategy, has drawn sharp criticism from key partners including the EU, Canada, and Mexico—whose economy is particularly exposed due to its heavy export reliance on the US. While the UK secured a temporary exemption at 25%, other nations are scrambling to negotiate relief. The OECD has downgraded global growth forecasts, citing the tariffs’ impact on trade, investment, and consumption. Meanwhile, US-China tensions remain high, with both sides imposing steep counter-tariffs and accusing each other of deal violations. Source: CBS News
Mexico Warns of Protective Measures Over US Metal Tariffs
President Claudia Sheinbaum warns that Mexico may take protective steps if the US does not reverse its 50% tariffs on Mexican steel and aluminum. She called the move unjustified under USMCA and warned it would raise costs for US consumers. Talks continue, with Minister of Economy, Marcelo Ebrard, set to meet US officials on June 6. Measures could be announced the following weeks if no deal is reached.
Source: El Financiero
Canada Looks to Mexico to Diversify Trade Amid US Tensions
As US protectionism rises, Canada is strengthening ties with Mexico through agri-food trade, infrastructure investment, and strategic cooperation. Ottawa launched a $5 billion fund to modernize trade corridors like the USMCA rail link from Mazatlán to Winnipeg. Export Development Canada sees major growth potential in Mexico’s food market, while both governments promote innovation and logistics integration. The shift marks a clear pivot from past tensions to a deeper bilateral alliance.
Source: Expansión
Canada Condemns US Metal Tariffs as Unjustified
Prime Minister Mark Carney called the new 50% US tariffs on Canadian steel and aluminum “illegal and unjustified,” warning they harm both American workers and Canadian industry. He confirmed ongoing talks with the Trump administration and promised a response soon. Ontario Premier Doug Ford accused the US of breaking a verbal deal and said all options are on the table.
Source: El Economista
Mexican Auto Production and Exports Decline in April
President Claudia Sheinbaum held a virtual and in-person meeting with steel and aluminum executives, alongside Minister of Finance Edgar Amador and Minister of Economy Marcelo Ebrard, to assess the impact of the new 50% US tariffs. She reaffirmed her administration’s commitment to protecting jobs and called the tariffs unjustified and unsustainable. Measures may be announced next week if no agreement is reached with the US government.
Source: El Universal
US Considers New Tariffs on Aircraft Parts
US Commerce Secretary Howard Lutnick announced that the Biden administration may impose tariffs on imported aircraft parts by the end of June. The move follows a national security investigation under Section 232, the same legal basis used for recent steel and aluminum tariffs. The proposed measures could affect commercial aircraft, jet engines, and aviation components, as Washington seeks to protect domestic industry and ensure fair trade practices.
Source: El Universal
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