Mexico Raises Non-FTA Steel Tariffs
Mexico raised tariffs for imports of steel and other items from non-free trade agreement countries, the country announced Aug 16, according to an unofficial translation. The increased tariffs -- which could subject certain products to duties "of up to 25%," the Office of the U.S. Trade Representative said -- will apply to merchandise from certain “strategic industries,” including steel, textiles, clothing, footwear, aluminum, tires, plastics, glass and ceramics.
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“In recent years, various sectors of production and supply chains of the national industry have been affected by the economic slowdown and unfair trade in some countries,” Mexico’s Ministry of Economy said in a press release, adding that the tariffs will “strengthen the integration of national producers in” its supply chains.
The USTR applauded the move, saying an “increase in global excess capacity continues to raise risks of further oversupply in the steel sector.” The U.S. “looks forward to continuing discussions with Mexico to address the recent surge of imports of steel and aluminum products into the United States and to ensure greater transparency with regards to Mexico’s steel and aluminum imports from third countries,” a USTR spokesperson said.