The Mexican government recently announced plans to impose tariffs ranging from 10% to 50% on more than 1,400 products from countries with which it does not have trade agreements, primarily targeting nations in the Asia-Pacific region, starting in 2026.

The President stated that consultations are currently underway with the relevant countries to explore potential adjustments.

In the steel sector, Mexico has taken several measures to reduce its reliance on imported steel, including the cancellation of 1,062 import permits and investments aimed at boosting domestic production.

According to the latest data from the National Chamber of the Iron and Steel Industry (Canacero), as of August, steel imports from South Korea, China, Vietnam, and Malaysia had declined by 18.3%, 12.9%, 38%, and 46.3%, respectively.