Mexico slaps import tariffs on Vietnamese steel imports - BNamericas
China , Vietnam and Mexico
News

Mexico slaps import tariffs on Vietnamese steel imports

Bnamericas
Mexico slaps import tariffs on Vietnamese steel imports

Mexico's economy ministry announced that it is imposing tariffs of up to 80% on imports of certain steel products from Vietnam, after domestic producers complained about unfair trade practices. 

The tariffs will be applied to imports of cold-rolled steel sheets, according to the text published in the official gazette on Thursday. 

This comes after an investigation carried out by the government to determine whether imports from Asia were damaging the market, as company Ternium claimed in February 2022.

China was accused of steel dumping, selling surpluses in Mexico via Vietnamese producers at prices below the cost of production, damaging domestic production, Ternium alleged.  

As a result of the investigations, imports from Vietnam's largest steel producer, Hoa Phat, will have to pay tariffs of 11.64%, while those from company Posco-Vietnam were given a 25.64% tariff. Imports from the rest of Vietnam's exporters have been hit with a 79.24% duty. 

However, the importers “will not be obliged to pay should they provide proof that that the country of origin of the goods is different from China,” the text reads. 

China is the biggest steel supplier in Latin America and accounts for almost a third of steel products entering the region, according to data from Latin American steel association Alacero, cited by daily Milenio. 

Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Mexico)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: La Parrilla
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: Terrazas
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: La Preciosa
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: Las Minas
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: El Horcón
  • Current stage: Blurred
  • Updated: 5 months ago
  • Project: Bilbao
  • Current stage: Blurred
  • Updated: 5 months ago

Other companies in: Mining & Metals (Mexico)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Minera Titán S.A. de C.V.  (Minera Titan)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...
  • Company: COMINVI S.A. de C.V.  (CoMinVi)
  • The description included in this profile was taken directly from an official source and has not been modified or edited by the BNamericas’ researchers. However, it may have been...