Mexico Renewed Steel Import Tariff to 15% Against Countries Without Free Trade Agreement | FASTENER EURASIA MAGAZINE
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Mexico Renewed Steel Import Tariff to 15% Against Countries Without Free Trade Agreement

According to a provision published on March 25, the Mexican Government updated the steel tariff rate to 15% against countries with no free trade agreement, after the measure taken in January appeared to be insufficient.
 
  Tariff implementation was introduced in 2015 to protect the country's domestic steelmakers from the growth of Asian imports. Since then, the Mexican government has updated its tariff rate at regular intervals.The tariff is applied to 186 previously protected products. The resolution refers to the drowning of the market into global products, a decline in prices and the deterioration of free competition in the national market.
 
  The US administration was also referring to national security concerns last year, imposed tariffs on steel and aluminum exporting countries, including Mexico. Mexican authorities denounced the tariff on the grounds that it was unfair. The US had set a tariff of 25% for steel and 15% for aluminum.