Mexican senators call for measures to counter US steel tariff threat

Mexican senators agreed to ask the economy ministry to evaluate counter-measures to plans by US senators who want to reimpose tariffs on Mexican steel.

The proposal was sponsored by ruling Morena party senator Ricardo Monreal and the approved text highlighted the steel industry’s importance for Mexican workers.

Recently, senators from both parties in the US requested imposing a 25% tariff on some Mexican steel products, claiming imports are rising to unsustainable levels.

Iron and steel industry chamber Canacero previously urged the US and Canada to avoid protectionist measures and strengthen regional value chains.

“We extend our deep appreciation to senator Ricardo Monreal for his commitment to the Mexican steel industry, which represents 1.6% of the national GDP and generates well-being through almost 700,000 highly paid jobs and permanent support to communities,” Canacero tweeted.

The economy ministry did not immediately respond to a request for comment on the senate initiative.

Referring to a letter in which the US senators demand the tariffs, Monreal wrote in his proposal that “this letter does not indicate the source of the information (an alleged customs and border protection investigation) that intends to support its statement, nor does it provide further arguments or elements of conviction that allow a clear, objective and evident demonstration of the need to impose the type of tariff US senators refer to.”

It was “inexplicable that the 13 US senators … question that Mexico exports to the United States ..., especially when the levels of exports from Mexico … reflect a minimal presence in terms of their market share.” 

Monreal claims steel imports from the US have been higher than Mexican exports to that country, citing figures from the US Census Bureau.