BancaMarch: The United States is trying to act on Chinese steel and aluminium entering through the Mexican border. The Biden administration has included tariffs of 25% on steel and 10% on aluminium not smelted in Mexico, the United States or Canada.
In this way, it aims to prevent the entry of Chinese metal circulating through Mexico in order to avoid the tariffs already imposed in May on various products of Chinese origin. The actions are carried out with the cooperation of the Mexican government, which has allowed the tariff to take effect today. In 2023, of the 3.8 million tonnes imported from Mexico, 13% were smelted outside North America and this percentage would therefore be subject to the new tariffs. As for aluminium, of the 105,000 metric tons from Mexico, only 6% was smelted in other countries.
