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Mexico Revises Steel Tariffs-2020 China(Guangzhou)Int’l Metal & Metallurgy Exhibition-metal exhibition
9/25/2019 金屬展-冶金展-鋼鐵展-steel expo-metal &metallurgy expo- |
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BN Americas reported that Mexico rejigged its steel tariffs to support local producers struggling under strengthening domestic and global headwinds. The tariffs, covering over 200 steel products, will remain in place for at least five years under changes introduced by the economy ministry ending the previous pattern of half-yearly extensions. Imposed in 2015, the tariffs came in response to a global steel supply surplus and dumping, and cover key steel products imported from countries with which Mexico has no free trade agreements. While stopping short of industry calls for the tariffs to be made permanent, the overhaul is an attempt to establish a longer-term trade policy for steel trade, according to the filing on the federal gazette website.
The Filling said that “With the objective of establishing a favorable environment that allows the steel industry to adjust to the global economic context, and boost the internal market, it is necessary to end the dynamic of half-yearly renewals of tariffs…and in its place define a medium to long-term tariff policy.”
Under the revised terms, tariffs on all but 30 of the 228 products will remain at the current 15% level before falling to 10% in September 2021. The rate will drop to 5% from September 2023, and expire from August 2024.
Levies on the remaining 30 products will decline to varying rates over the years, with some remaining in place beyond August 2024.
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