Mexico extends the import tariffs on steel products for the fourth time

The Mexican government has extended its 15% tariff on imported slabs, hot rolled coil (HRC), plate, cold rolled coil (CRC) and wire rods for the fourth time, to protect its domestic steel industry.

According to a decision issued by the Economic Secretariat on Tuesday, October 17, the tariff will be implemented from October 18 and the validity period is 180 days.

The previous measures expired on 8 October.

The import tariff applies to the steel products under 97 HS codes, both imported from countries with no free trade agreement with Mexico.

According to the Secretariat, there is still a lack of healthy competition between the steel industry in different countries, so Mexico needs to renew the 15% tariff on imported products again.

15% tariff enact the first time in October 2015, validity is 6 months, and respectively extended 180 days in April and October last year.

According to the latest data released by the Mexican National Steel Association Canacero, in 2016, Mexico imported 13.9 million tons of steel products.

And Canacero data show that last year's domestic steel production in Mexico reached 18.8 million tons, while exports were 4.5 million tons.

404