Mexico's Steel Mandate: A New Trade Move

0:00It's April 29, I'm Cory with the story, and this is U.S. News Today, National News powered by AI. Mexican President Claudia Scheinbaum just dropped a big policy move, mandating that all federal projects use steel made right here in Mexico. This comes after talks to scrap those hefty U.S. steel tariffs fell through, forcing Mexico to pivot and boost its own industry. Sheenbaum's call is a direct play to cut Mexico's heavy reliance on the U.S. economy, where 80% of our exports head north. Trump's 50% tariffs on steel and aluminum hit hard last year, and Mexican officials have called them unfair since the U.S. actually runs a surplus in those metals with us. Industries like autos and steel ship over 50% of their goods to America, so this hits close to home. Leaders in Mexico had held back before, not wanting to rock the boat with their top trading partner, but now they're stepping up amid global tariff. Just last week, the U.S. trade representative, Jameson Greer, visited and straight up told

1:02Mexico's auto and steel sectors not to bank on tariff relief. During the U.S. MCA review, no duty-free quotas or reduced rates in sight for now. This shift signals tougher times ahead in trade talks, but it could spark real growth for Mexican steel makers, while everyone watches how the negotiations play out.