The National Chamber of the Iron and Steel Industry (Canacero) indicated that Mexican steel is not a threat to the US market, and that on the contrary, it is a complement and the country is completely open to US exports.
Therefore, the organization rejected in a statement what it described as an unjustified decision of President Trump to increase barriers to steel imports, from 25% to 50%, starting on Wednesday.
He affirmed that tariffs mainly affect the US business partners and the value chain in the region, since China and other countries in Asia raise subsidies and depreciate their coins to evade the barriers.
Lee: It is unsustainable rise in steel tariffs: Ebrard
“The best solution to combat global steel overcapacity and unfair trade practices is to work coordination as a region,” he said.
He highlighted the surplus that EU maintains in the bilateral steel trade with Mexico of 4,000 million dollars in finished products, which, he anticipated, will grow in 2025 in the face of the fall of Mexico’s exports.
Lee: Tariff to steel and aluminum rise significantly affect Mexico and Canada
He pointed out that shipments from our country have decreased 50% alone in April and May.
“We trust the current negotiations in charge of the Ministry of Economy and the urgent measures established accordingly,” he said.
Trump signed an executive proclamation on Tuesday that puts his surprise announcement last week that he would raise 25% to 50% tariffs on steel and aluminum imports that were in force since March.
The increase applies to all commercial partners except the United Kingdom, the only country that to date has reached a preliminary commercial agreement with the US during the 90 -day break in a broader series of tariffs imposed by Trump.
The barrier to the imports of steel and aluminum of the United Kingdom – which is not among the main exporters of any of these metals to the US – will remain at 25% up to at least July 9.
The Secretary of Economy, Marcelo Ebrard, described the measure as unsustainable, unfair and inconvenient, and said that Friday will ask Washington to also exclude Mexico.
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