• Skip to main content

    Analysis

    CRU: Mexican lawmakers vote to put tariffs on steel and aluminum

    Written by CRU


    This news item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com

    Members of Mexico’s lower house have approved a plan to impose levies of between 5% and 50% on imports of 1,463 categories of goods from countries lacking a trade agreement with Mexico.

    The targeted items are from 17 economic sectors and include 248 products within steel and 21 within aluminum. The countries likely to be hit most are China, South Korea, India, Vietnam, Thailand, Brazil, Indonesia, Nicaragua, the UAE and South Africa, local media reported.,

    President Claudia Sheinbaum has argued the measure is necessary to strengthen domestic production and, in particular, address trade imbalances with China.

    The upper chamber, the Senate, has yet to vote on the proposal which, in its current form, will allow the economy ministry to implement specific mechanisms and legal instruments to permit some imports to guarantee supply of inputs under competitive conditions.

    CRU

    Read more from CRU

    Latest in Analysis