Local media has reported that Mexico’s ruling party MORENA has launched a point of agreement for approval in the parliament, which requests the national foreign trade regulator of Mexico to analyze the products to which the retaliatory tariff would apply if the US decides to impose tariffs on the export of Mexican steel. The point of agreement urges the Ministry of Economy, Mexico's foreign trade regulator, to analyze Mexico's steel trade balance with the United States.MORENA Parliamentary Group in the Senate of the Republic Mr Ricardo Monreal Avila said “We have to support Mexico. The purpose of identifying in which of them it is convenient for Mexico to consider the application of retaliatory measures in the event that the United States of America decides to impose tariffs on other unjustified protectionist measures on Mexican steel products.”The Biden administration is being urged to consider reimposing Section 232 tariffs on steel from Mexico in response to a surge in imports.US had lifted its 25% section 232 tariffs on steel products from Mexico in May 2019 but had warned that these tariffs could be reimposed if imports surged in the future. A bipartisan group of nearly a dozen senators in a 14 February letter to US Trade Representative Ms Katherine Tai and Commerce Secretary Ms Gina Raimondo wrote “Since the US lifted Section 232 tariffs, Mexican steel conduit imports have reached unprecedented levels and Mexico’s penetration of the US steel conduit market has more than tripled. The volume of annual iron and steel imports from Mexico has increased approximately 73% over the pre-Section 232 2015-2017 baseline and steel conduit imports have risen by an even more disturbing 577%.”Moreover, the letter said that a recent investigation by US Customs and Border Protection has revealed that importers misclassified steel conduit exports, concealing this extraordinary surge.Stating that this increase has already cost more than 200 US jobs and led to the closing of one of the handful of US factories that still produce steel conduit, the senators said “The Biden administration should immediately begin consultations with Mexico with the goal of returning imports to historic volumes of trade, with quotas, if necessary. If this effort is unsuccessful, the administration should consider other mechanisms to ensure compliance and protect America jobs, including the reapplication of Section 232 tariffs.”
Local media has reported that Mexico’s ruling party MORENA has launched a point of agreement for approval in the parliament, which requests the national foreign trade regulator of Mexico to analyze the products to which the retaliatory tariff would apply if the US decides to impose tariffs on the export of Mexican steel. The point of agreement urges the Ministry of Economy, Mexico's foreign trade regulator, to analyze Mexico's steel trade balance with the United States.MORENA Parliamentary Group in the Senate of the Republic Mr Ricardo Monreal Avila said “We have to support Mexico. The purpose of identifying in which of them it is convenient for Mexico to consider the application of retaliatory measures in the event that the United States of America decides to impose tariffs on other unjustified protectionist measures on Mexican steel products.”The Biden administration is being urged to consider reimposing Section 232 tariffs on steel from Mexico in response to a surge in imports.US had lifted its 25% section 232 tariffs on steel products from Mexico in May 2019 but had warned that these tariffs could be reimposed if imports surged in the future. A bipartisan group of nearly a dozen senators in a 14 February letter to US Trade Representative Ms Katherine Tai and Commerce Secretary Ms Gina Raimondo wrote “Since the US lifted Section 232 tariffs, Mexican steel conduit imports have reached unprecedented levels and Mexico’s penetration of the US steel conduit market has more than tripled. The volume of annual iron and steel imports from Mexico has increased approximately 73% over the pre-Section 232 2015-2017 baseline and steel conduit imports have risen by an even more disturbing 577%.”Moreover, the letter said that a recent investigation by US Customs and Border Protection has revealed that importers misclassified steel conduit exports, concealing this extraordinary surge.Stating that this increase has already cost more than 200 US jobs and led to the closing of one of the handful of US factories that still produce steel conduit, the senators said “The Biden administration should immediately begin consultations with Mexico with the goal of returning imports to historic volumes of trade, with quotas, if necessary. If this effort is unsuccessful, the administration should consider other mechanisms to ensure compliance and protect America jobs, including the reapplication of Section 232 tariffs.”
