Mexico will wait to see how talks with the United States progress in the next two weeks before deciding on applying reciprocal tariffs on U.S. steel and aluminum imports, Mexican President Claudia Sheinbaum said Wednesday. Last month the Trump administration announced 25% tariffs on global steel and aluminum products, including on Mexico, but agreed to pause them until April 2. Sheinbaum said Mexico will only consider whether or not to impose reciprocal tariffs on aluminum and steel on that date. When asked if she was confident the United States would lift the announced tariffs, the president replied: “we don't know,” adding that everything would depend on the dialogue process. Sheinbaum's government objected to the tariffs on the grounds that Mexico imports more steel from the U.S. than it exports to its neighbor to the north. She said she was confident that tariffs on Mexican products would not be introduced on April 2 because the two countries "have a trade agreement” and there are no tariffs between Mexico and the United States. According to Mexican authorities the U.S. has a surplus with Mexico of $6.9 billion dollars in the steel and aluminum trade. Mexico's exports of steel, aluminum and finished products to the U.S. represent barely 2.1% of the country's total exports. According to local industry figures, around 32% of Mexico's finished steel imports in 2023 originated in the United States.