Mexican steelmakers Ternium Mexico and Altos Hornos de Mexico (AHMSA) expect the US will exclude Mexico from the US Section 232 import tariff, according to media reports from El Financiero and Noticias del Sol de la Laguna.
Cesar Jimenez, director at Ternium Mexico, said he expects Canada to join a recent preliminary trade agreement involving Mexico and the US.
“Before the US concludes all these negotiations, they should exclude the 25 percent imports tariffs (under 232 Section) it still applies to Mexican exports,” he said.
Luis Zamudio, director at AHMSA, shared from a similar expectation.
He said the imports tariff is likely to be excluded as Canada joins the trade agreement.
Zamudio said he expects the US to apply though a “steel export quota,” which would be “satisfactory” for Mexican steelmakers.