The Mexican steel industry has suffered a few setbacks since the Obama administration, but analysts say the sector’s situation could get worse after the recent inauguration of president Donald Trump.
Already, duties applied by the US to Mexican steel-related products include pipes, tubes, rebar and wire rod.
“What can happen is that, in general, Mexican [steel] exports could have tougher restrictions to enter the US. That said, we can say the Mexican steel could be hit in a stronger way,” said Jose Luis de la Cruz, the country’s Institute for Industrial Development and Economic Growth (IDIC).
The US is Mexico’s primary export destination for iron and steel products.
Media reports citing government data said the US accounted for 80 percent of Mexican exports of iron and steel products in the full year of 2016.