Posted on 05 Dec 2018
Mexico says that it has implemented a digital monitoring system on imports of steel products. This has been in operation since the beginning of December, Kallanish learns from a note by the local Ministry of Economy published in the country’s Official Gazette of the Federation on 30 November.
According to the authority, the new automatic import notice system allows better information on steel imports, ”… becoming an instrument to prevent and combat recurring harmful practices such as the incorrect tariff classification of goods, undervaluation and triangulation of origin, which affect the participation of the steel industry in national economic activity.”
The Ministry includes an additional 107 steel products on its monitoring list to the existing 186 products subject to tariffs, the note adds.
In June, Mexican authorities suspended the country's preferential tariff system for US imports as a consequence of the US’ imposition of 25% tariffs on Mexican steel imports. Mexico also extended its temporary import tax on steel products to cover slab, steel plate, hot rolled coil, cold rolled coil, coated flat steel, wire rod, rebar, profiles, seamless and welded tubes. The tariffs range from 15-25% depending on the product.
