The Mexican government, along with the nation’s Chamber of the Iron and Steel Industry (CANACERO), announced this week a series of measures that are expected to help the country’s struggling steel industry.
According to both CANACERO and the nation’s economy secretariat, SE, Mexico will “establish bails to guarantee the enforcement of the nation’s temporary imports programs.” Mexico will also issue 86 temporary tariffs on temporary imports labeled as “sensible products”. According to the document, Mexican companies will need to demonstrate “ex-ante” a series of requisites to be able to complete temporary import orders.
Also on temporary imports, the joint document said Mexico will “regulate imports in terms of the installed capacity and corroborative sales.”
The two-page document also mentions measures on definite steel imports and cites the compromise of SE and CANACERO of fighting unfair foreign trade practices.
The document said Mexico will “expand the coverage of the Automated Notice of Importation, adding 21 new imports tariffs,” as well as “harden the revision of the of Importation Notices,” with a special focus on those products, which have “significant low prices.”
Regarding regulation of imports, the document said it will establish a committee to revise the operations of foreign trade, which will be formed by Mexico's Tax Administration Service (SAT), SE and CANACERO.
In the document, SE and CANACERO also promised to “minimize the time of the investigations within the nation’s legal framework.”