Mexico steel chamber fears tariff lapse fallout
Mexican steelmakers expressed concern after a 15% tariff on steel imports lapsed.
The tariff, imposed on more than 100 steel products from countries with which Mexico has no free trade agreement, ended on January 31, industry chamber Canacero said in a release.
The tariff, first imposed in 2015 and extended since then for six-month periods, has enabled Mexican steelmakers to grapple with the challenges of Chinese overcapacity and a 25% US tariff, imposed on steel from Mexico and other countries last year.
Renewal of the 15% tariff - and raising it to 25% - is a key element of Mexico's push to be excluded from the US duty, imposed under section 232 rules relating to national security, Canacero said.
Without the levies Mexico will be seen as a "platform for triangulation," with overseas producers seeking to sneak low-cost steel through the country to the US, the chamber warned.
This in turn could undermine the US-Mexico-Canada free trade agreement, given that the US House of Representatives has made elimination of the section 232 tariffs in North America a condition of approval, it added.
Chinese overcapacity and steel dumping are seen as significant threats to Mexican steelmakers, while Canacero warned last year that the 25% tariffs imposed by Washington were harming Mexican exports while US shipments to Mexico were growing.
The chamber has also called on Mexico's government to mirror the US 25% levies on US steel.
Mexico's retaliatory tariffs on US goods were spread over a range of products including pork, grapes, apples, whiskey and certain steel and aluminum items, rather than on steel.
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