USMCA Watch: Mexican Metals Demand May Become Another Ratification Hurdle — Panjiva


USMCA Watch: Mexican Metals Demand May Become Another Ratification Hurdle

Materials - Metals/Mining 496 Metals - Aluminum 164 Metals - Steel 369 Mexico 516 Tariffs 1205 Trade Deals 708 U.S. 3362 USMCA 378

Mexico’s Economy Secretary, Graciela Marquez Colin, has formally requested an exemption from U.S. section 232 duties on steel and aluminum. That could be a sign that the tariffs are becoming a sticking point for Mexican ratification of the U.S.-Mexico-Canada Agreement alongside the need to implement labor reforms. The tariffs have in any event not cut Mexico’s steel and aluminum exports to the U.S. They climbed 10.9% year over year in the three months to Feb. 28 to reach $3.56 billion. That was due to a 112.4% surge in shipments by ArcelorMittal as well as increased exports by Ternium. B...

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