Now that Mexican President Enrique Peña Nieto has signed the Pacific Alliance between Mexico, Peru, Chile, Colombia and Costa Rica, Mexican steel companies await notice that Mexico is excluded from the application of trade safeguards regarding four of its major exported products in the Colombian market: wire, rebar, profiles and angles.
Currently, temporary quotas have been imposed by Colombia for 200 days, due to expire on April 26, which has led Mexican steel producer DeAcero to postpone investments in the South American country.
According to Mexican media, Brazilian companies that dominate the Colombian steel market are behind those measures.