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Aug 19, 08:17 PM
Mexico Pushes North American Steel Committee to Defuse U.S. Tariff Tension
Mexico
Tariffs
Economics
Politics
Business
World

Mexico Pushes North American Steel Committee to Defuse U.S. Tariff Tension

Authors
  • Bloomberg
  • El Financiero
  • El Economista
5

Mexico plans to propose re-establishing a North American Steel Committee in upcoming talks with the United States, Deputy Trade Minister Luis Rosendo Gutiérrez Romano said. The body would bring together steelmakers and trade officials from both countries— and potentially Canada later— to coordinate regional policy and curb dependence on Asian imports. The initiative is part of Mexico’s effort to persuade Washington to roll back tariffs of up to 50% on Mexican steel and aluminum. Gutiérrez said the committee would examine measures such as increasing Mexican purchases of U.S. steel and raising Mexico’s own duties on Asian metal to reinforce North American supply chains. To address U.S. concerns about trans-shipped steel, Mexico has already shut down 1,062 “phantom” mills that served as fronts for imports, about 40% of which were linked to China. The tariff dispute has begun to weigh on investment; Brazilian producer Gerdau recently scrapped a proposed US$600 million special-steel plant in Mexico amid the uncertainty. Mexican officials view a regional committee as a platform to craft common trade practices, support domestic consumption and stabilize industry investment, while signaling to the U.S. that Mexico is willing to tighten enforcement against unfair steel trade.

Written with ChatGPT .

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