Mexico says crackdown on Asian steel shipments is paying off as US tariff talks advance
XLB•XLB•XLB•XLB•Mexico said it canceled around 1,100 mill registrations and cut steel and aluminum imports from third countries by about 30%, as it seeks US tariff relief on autos, steel and aluminum. Imports from Vietnam fell 80% in some months.
Mexico is tightening steel traceability measures to prevent goods from China and other countries being rerouted through its territory into the United States, Deputy Economy Minister Luis Rosendo Gutierrez said. The government canceled around 1,100 mill registrations, many in Asia, that authorities found did not exist; imports from Vietnam fell 80% in some months.
Gutierrez said Mexico reduced steel and aluminum imports from China, South Korea, India and other third countries by about 30%, stemming around 13 billion pesos ($698.54 million) in imports. Mexico is prioritizing relief from US Section 232 tariffs on autos, steel and aluminum, and hopes for positive news in the coming weeks, he said.
