Mexico announced on Thursday a tariff of almost 80 percent on some imports of steelfollowing criticism from local producers that Chinese steelmakers have strangled their production.
You might be interested in: Brazil celebrates extension of anti-inflation package in Mexico, which benefits local exporters
Countervailing duties apply to some Vietnamese exports of cold-rolled steel sheets, although if the groups can prove that the goods come from a country other than China, are exempt from the tariffaccording to a document from the Ministry of Economy published in the Official Gazette of Mexico.
Vietnamese steelmaker Hoa Phat will be subject to an 11.64 percent tariff, while Posco Vietnam will face a 25.64 percent tariff, although the country of origin exemption also applies to them.
In recent years, several nations have warned about the Chinese steel producers They sell their surplus abroad at prices below market prices, a practice known as dumping, and some try to avoid anti-dumping measures by first shipping the steel to other countries.
In August, Mexico imposed a 25 percent tariff on some steel imports from countries with which it does not have a free trade agreement, including China.
➡️ Subscribe to our Newsletter and receive the most relevant notes in your email
The tariff published Thursday ends a government anti-dumping investigation opened at the request of the local unit of steelmaker Ternium almost two years ago. The company declined to a request for comment.