Mexico is close to reaching an exclusion from existing steel tariffs imposed by Canada on Mexican steel, a government official said this week at an industry event promoted by local steel association Canacero.
Mexico’s sub-secretary of industry and commerce within the nation’s economy secretariat, SE, Rogelio Garza, said the goal was to reach the exclusions by year-end, before Mexico, Canada and the US sign the USMCA agreement.
Garza said an exclusion from the US’ Section 232 tariffs should also be granted by the end of the year. Mexico has already signaled the US could agree on a steel quota agreement as a way to exclude the Spanish-speaking country from Section 232.
Earlier in October, Mexico criticized a decision by Canada to impose 25 percent safeguarding duties over steel imports from several countries, including Mexico. The Mexican government promised at the time to “carefully review” the measures imposed.
Mexico has supported a trilateral agreement with the US that would include Canada. If a deal to exclude Mexico from existing duties does not take place, Mexico could impose reciprocal measures.
Garza said the signing of the USMCA agreement will advance with or without exclusions from existing duties.