Canacero calls for higher steel tariffs

Canacero calls for higher steel tariffs

Mexico's Iron and Steel Chamber (Canacero) asserts that higher tariffs should be imposed on steel imports from countries that sell steel at lower prices in Mexico. Canacero argues that the Mexican steel industry is suffering from unfair trade practices by steel companies in Brazil, China, India, Turkey and the CIS. The Chamber accuses these countries of engaging in tactics such as offering subsidies to their steel industries while failing at the same time to open their markets to Mexican steel producers. Steel imports in Mexico are currently charged a 2% duty. However, Canacero claims that duties actually collected may sometimes be lower than 1%. Canacero suggests that higher steel tariffs would discourage those countries that Mexico does not have trade agreements with, or that offer illegal subsidies to their steel industries, from exporting their products to Mexico.