Mexico announced on Thursday a tariff of almost 80% on some steel imports, following criticism from local producers that Chinese steelmakers have strangled their production.
Countervailing duties apply to some Vietnamese exports of cold-rolled steel sheets, although if the groups can prove that the merchandise comes from a country other than Chinaare exempt from the tariff, according to a document from the Ministry of Economy published in the Official Gazette of Mexico.
Vietnamese steelmaker Hoa Phat will be subject to an 11.64% tariff, while Posco Vietnam will face a 25.64% tariff, although the country of origin exemption also applies to them.
In recent years, several nations have raised alarm about Chinese steel producers selling their surplus abroad at below-market prices, a practice known as dumping, and some are attempting to circumvent anti-dumping measures by first shipping the steel to other countries. .
In August, Mexico imposed a 25% tariff on some steel imports from countries with which it does not have a free trade agreement, including China.
The tariff published Thursday ends a government anti-dumping investigation opened at the request of the local unit of steelmaker Ternium almost two years ago. The company declined to a request for comment.
(Photo: Reuters)
Source: Gestion
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