Mexico’s 15 percent tariffs over steel imports take effect this week

Monday, 25 March 2019 01:04:18 (GMT+3)   |   Sao Paulo
       

Mexican president Andres Manuel Lopez Obrador announced on Monday he has renewed a 15 percent tariff over certain steel imports from China and other countries with which Mexico does not have trade agreements.

The decision was published on Monday at local official gazette Diario Oficial Federal (DOF), covering 175 products. The tariff will be effective on Tuesday.

The renewed 15 percent import tariff covers imports of slab, CRC, HRC, heavy plate and wire rod, which had already been included in the past announcements, as well as other products, such as seamless and welded pipes, rebar and profiles. The provisional tariff will last for six months. Obrador said he could increase the existing 15 percent tariff if a lack of free trade market conditions persists.

Mexican steel association Canacero welcomed on Monday the decision. “The industry recognizes the Mexican government’s decision to renew provisional tariffs from countries we don’t have trade agreements with, as a way to cope with a global crisis caused by a steel surplus and which was aggravated by a US decision to unfairly impose a 25 tariff over our exports,” Canacero said.

 


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