Mexico government may reduce duties on imports of steel products
Mexico's National Association of Home Builders (Canadevi) had previously requested Mexico's Economy Secretariat (SE) to eliminate steel import tariffs as the prices of housing construction materials have unprecedentedly increased in Mexico for the last couple of months. The current duties in Mexico on import of steel products are ranging between 11%-13%. Canadevi expects that if these duties are eliminated, the prices will reduce with the same proportion. Upon the demand of Canadevi, now it is talked in the market that SE is planning to reduce steel duties by 4% to the levels of 9% to be in effect in April for the imports from countries which Mexico does not have standing agreement. However, no official statement is made about the issue yet.