April 1, 2019

Mexico Renews 15 Percent Penalties On Some Steel Products From Non-FTA Countries

As Fastmarkets AMM (subscription required) reported, on March 26 the Mexican government reinstated penalties on imports of certain steel products from countries with which it does not have free trade agreements, or FTAs. (Mexico has FTAs in place with at least 40 countries, including the United States and Canada.)

The 15 percent import duties, which had been in place since 2015 before they expired at the end of January 2019, will affect steel goods classified under 186 tariff codes, including heavy plate, sheet, hot-rolled coil, cold-rolled coil, wire rod, seamless tubes, welded tubes, coated sheet, rebar and sections.

Canacero, the trade association that represents Mexico’s steel industry, praised the decision, arguing the country needs to continue fighting “the global steel overcapacity crisis.”