Global News Of Note: China Announces It Will Cut Tariffs On Some Aluminum, Copper Products
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- Effective Jan. 1, 2025, the Chinese government has reduced import tariffs on ethane and certain recycled copper and aluminum raw materials products. Provisional import tariffs below the most-favored-nation rates will be applied to 935 items. Read more at this link.
- The Mexican government has said it will impose a 36.23 percent tariff on imports of steel wire from Vietnam that are used for welding. The decision came after a complaint from Mexican firms Electrodos Infra SA de CV and Plasticos y Alambres SA de CV. As Bloomberg reported, the market share for Mexican producers of steel wire has tightened in recent years as imports from Vietnamese companies grew more than 10 percentage points to 18.6 percent by 2023. The new tariff will remain in effect for at least five years and can be extended.