Mexico's president urges 'calm' as Trump announces steel tariffs

Mexican President Claudia Sheinbaum urged all parties to remain "calm" in response to U.S. President Donald Trump's threat to impose new tariffs on steel and aluminum.

Sheinbaum said the Mexican government learned of the potential tariffs through media reports and would wait for official announcements before making any decisions.

"We learned about it from the media, like everyone else. We will wait. We need to remain calm on this matter. Let's wait and see if there will be an official announcement today and then make a decision."

Trump told reporters on Sunday that he planned to announce a 25% tariff on all steel and aluminum imported into the United States the next day.

Key background: Canada and Mexico are major steel suppliers to the United States, with Canada the largest steel exporter and Mexico the third largest. Canadian steel exports to U.S. companies account for nearly a quarter of all U.S. steel imports by weight, while Mexico accounts for about 12%, according to the American Iron and Steel Institute.