According to data from the Bank of Mexico (Banxico), in June of this year, Mexican steel and aluminum exports to the US reached the lowest levels in years, due to the tariffs increased from 25% to 50% by the US.

Specifically, foundry, iron, and steel exports to the US totaled US$159.8 million in June, a monthly drop of 22.4%. This figure represents five consecutive months of declines and the lowest level since September 2020.

Likewise, aluminum exports totaled US$163.7 million in the month, a monthly drop of 5.7% and the lowest level since January of this year.

The Mexican industry faces a double challenge: mitigating the immediate impact of the tariffs and diversifying markets to reduce dependence on the US. Meanwhile, Banxico's figures reflect that a critical outlook could continue if trade agreements are not reached.