Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel

At Ternium, we believe the future of manufacturing in the Americas must be built on a modern, sustainable steel industry. That is why we are building a state-of-the-art, low-carbon steel mill set to begin operations in 2026 in our Industrial Center in Pesquería, Mexico,

This is an exciting step forward, but we are fully aware of the complex landscape ahead, where the steel industry is directly affected by global trade tensions.

The origin of these tensions is not new. They are driven by more than two decades of unfair competition by China and its satellite countries, whose non-market economy model has fractured the global playing field.

In the last 25 years, China’s share of global manufacturing has soared from less than 5% to over 35%, even as it consumes just 13% of that output. Now, it’s aiming for 45% by 2030. This enormous imbalance, driven by unfair trade practices, puts the entire industrial ecosystems of our countries at risk, including the jobs, communities, and supply chains that depend on fair competition.

We cannot address this challenge alone. The solution lies in coalition-building with nations that share our values—countries that believe in fair trade, environmental stewardship, and industrial sovereignty. The USMCA is a strong starting point.

The USMCA has almost $40 billion of steel trade deficit with Asia. This is where our greatest opportunity lies. That is in reducing that trade deficit by re-shoring production and expanding intra-regional trade. We must work to have a better USMCA. A more effective one. One that guarantees resilient supply chains, promotes sustainable growth, defends our markets, and protects the millions of jobs that depend on the regional industry.

To make that vision a reality, any renewed USMCA must be backed by clear mechanisms for transparency, traceability, and enforceability. These tools are essential to ensure fair implementation and long-term benefits across the region.

To be more competitive, sustainable, and resilient, this next chapter in manufacturing must be built on the following pillars: the safety of our people; protection of our environment; strong engagement with local communities; and the integration of smarter, more efficient technologies.

Steel is an industry of industries. It is the force behind the reconstruction of manufacturing throughout North America. We must lead this transformation and protect the jobs and communities that depend on our work.

Editor’s note

Máximo Vedoya, CEO of leading Latin American steelmaker Ternium, will be a featured speaker at SMU’s Steel Summit 2025 in Atlanta. If you haven’t registered for the event yet, you can do so here.

SMU welcomes opinions from across the steel industry. If you have an opinion you’d like to express to the broader steel community, please contact us at info@steelmarketupdate.com.