Mexico to renew 15 percent import tariff

Tuesday, 26 February 2019 02:45:14 (GMT+3)   |   Sao Paulo
       

Mexico’s ministry of economy announced Tuesday that it will renew a provisional 15 percent tariff against imports of several steel products from countries with which the nation does not have existing trade agreements.

The tariff will last for six months, and apply to imports of slab, CRC, HRC, heavy plate and wire rod. The tariff previously expired on Jan. 31, 2019.

Mexican steel association, Canacero welcomed the news in a statement. “The decision contributes to (helping) Mexico to cope with the global crisis the steel industry is experiencing,” the association said, adding that the decision will also ensure Mexico is not taken advantage of in circumvention practices.

SteelOrbis reported earlier Tuesday that Mexican President Andrés Manuel López Obrador indicated that the renewal of the safeguard measures on steel imports would be reviewed, adding that he was "working on the issue of protecting the domestic industry."

 


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