Mexico introduces pre-approval process for US steel exports
Mexico will introduce pre-approval processes on steel exports to the US as a measure to prevent its products from being subject to Section 232 tariffs, Kallanish reports.
The measures, which will go into effect on 4 September, will establish certainty that Mexican exports haven't been routed through other countries before being imported to the US.
Earlier this week, the Trump administration reduced the import quota cap on certain Brazilian products, due to imports being a threat to national security.
“While the Covid-19 pandemic has challenged both of our countries in unprecedented ways, it has also underscored the importance of the strong economic partnership between the United States and Mexico and the need for close coordination to address common challenges," says US trade ambassador Robert Lighthizer. "Our successful consultations on steel prove it is possible for us to work together to find creative solutions that serve the interests of workers and businesses in both countries."
According to preliminary census data, Mexican steel exports to the US totalled 210,995 tonnes in July. The majority of which came from blooms, billets, and slabs, which totalled 51,303t for the month. Additionally, Mexico exported 25,479t of rebar to the US in July.
Source: Kallanish www.kallanish.com/en