Mexico on Thursday said it will impose tariffs on U.S. goods, after the United States announced that Mexico will be subject to tariffs on imported steel and aluminum starting June 1.

"Mexico has indicated on repeated occasions that these types of measures under national security criteria are not appropriate or justified," the Economy Ministry said in a statement.

"Mexico deeply regrets and disapproves of the U.S. decision to impose these tariffs," the ministry said.

Mexico plans to respond with equivalent tariffs on U.S.-made imports, such as flat steel, lamps, pork legs and shoulder, cold cuts and processed foods, apple, grape, cranberry, cheese and other goods.

Early in the day, U.S. Commerce Secretary Wilbur Ross said Mexico, as well as Canada and the European Union, would have to pay a 25 percent tariff on steel and a 10 percent tariff on aluminum.

Mexico is the U.S. fourth largest supplier of steel, after Canada, the EU and South Korea, according to U.S. figures, and it is hoping to be exempt from paying the new tariffs.

According to Ross, Mexico was included because the negotiations to modernize the North American Free Trade Agreement (NAFTA) are taking longer than anticipated.

Mexico is also the U.S. main buyer of aluminum and steel products.

Both metals contribute to the competitivity of several strategic industrial sectors that are highly integrated in North America, including the automobile, aerospace, electricity and electronics industries, Mexico's ministry said.

Mexico said it was open to constructive dialogue and against protectionist measures.

Mexican bank Ve por Mas (BX+) warned the measure might spark a trade war, with the EU already having composed a list of U.S. imports valued at US$3.2 billion the region plans to impose tariffs on as of June 20.

The EU is also expected to take its case to the World Trade Organization (WTO).

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