MEXICO CITY - Mexico on Tuesday rejected the 25-percent tariffs on all steel and aluminum imports announced a day earlier by the US administration.

Noting that Mexico has a deficit with the United States in steel and aluminum trade, Mexican President Claudia Sheinbaum told reporters that there is no point in placing tariffs on Mexico's steel and aluminum exports.

It is even more important to note the existence of the United States-Mexico-Canada Agreement, which benefits all three parties, she said.

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At the same press conference, Mexican Economy Minister Marcelo Ebrard said the United States earns more from trade with Mexico.

Imposing these tariffs would raise the price of components used in different industries, including the automotive industry, where a piston, for example, crosses the borders between Mexico, the United States and Canada multiple times during its manufacturing process, he said.

Prior to the announcement of the new tariffs, US President Donald Trump signed an executive order to impose a 25-percent tariff on Mexican imports, but later agreed on a one-month suspension on the measure.

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During his first presidential term, Trump imposed tariffs of 25 percent on steel and 10 percent on aluminum imports. He granted certain trading partners duty-free exemptions later, including Canada, Mexico and Brazil, his country's main markets in this area.