Search ForexCrunch

US tariffs on Mexican structural steel is a new problem and Mexico will have to be very active in supporting its steelmakers, Mexican Deputy Foreign Minister said on Tuesday, according to Reuters.  

Key quotes

“Preliminary subsidy determination announced by the US does not put in danger the ratification of North American trade deal USMCA.”

“US subsidies on steel are against certain private companies in Mexico, not the wider steel industry.”

“US tariffs on Mexican structural steel is a “new problem” and Mexico will have to be very active supporting its steel-makers.”