Cracking Down: Joint U.S – Mexico Measures Target Metal Imports Evading Tariffs
Last Wednesday, authorities from the U.S. and Mexico introduced measures to reduce imports of metals from China and other nations that use Mexico to evade tariffs.
The White House stated that President Biden and Mexican President Andres Manuel Lopez Obrador have implemented a policy requiring steel and aluminum imports from Mexico to be subject to 25% U.S “Section 232” tariffs, unless the steel can be melted and poured in Mexico, the U.S., or Canada.
U.S. – Mexico Trade Continues to Increase –
In the last year, U.S. – Mexico trade has seen growth, especially with more manufacturers moving product to North America. In just last year alone, per Freightwaves, the U.S. imported close to $3 billion worth of steel, aluminum and other metals from Mexico through the port of entry in Laredo, Texas.
Nearshoring continues to be a hot topic, as many industry stakeholders predict it to gain continued momentum down the road.
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