Mexico Removes Aluminum Tariffs Shortly After Implementing Them
In a sharp reversal from what Connecting the Dots reported just a few weeks ago, the Mexican government has removed tariffs on some industrial metals product imports. Specifically, as BNN Bloomberg explained, the country has gotten rid of penalties on aluminum imports from countries with which it does not have trade agreements.
The government argued the change was due to the fact that there is no domestic production of either raw unalloyed or alloyed aluminum within the country. The “availability of said merchandise in countries with which Mexico has signed an international treaty on trade matters is insufficient to satisfy the supply of the automotive industries, auto parts, and electronics, among others,” the government said in a decree.
The tariffs, which were as high as 35 percent, were put in place late last month, and had been part of a broader initiative to combat inexpensive imports from China, Russia, and other countries. The April announcement covered more than 500 product categories across multiple industries, including industrial metals. Penalties on steel products remain in place.
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