The Government of Mexico announced the elimination of tariffs on certain products from the United States as a measure of reciprocity for the elimination of the tax on steel and aluminum.
The measure is implemented after the agreement reached between Mexico and the United States last Friday, when the quotas of 25% to steel and 10% to aluminum were withdrawn.
The Ministry of Economy (SE) pointed out that the progress was possible due to the firm stance maintained by its owner, Graciela Márquez Colín, of not accepting quotas as a solution and that the only acceptable option for Mexico was the elimination of the measure.
He pointed out that the retaliation strategy put in place for certain American products, including agricultural products, was decisive for decision-makers to pressure the Trump administration to eliminate measure 232 on steel and aluminum from our country.
In June 2018, levies of between 15 and 25% were imposed on steel products and some agricultural goods, such as legs and shoulders of pork, apples, blueberries, cheeses, potatoes, and whiskey from the United States.
The SE reiterated that this dependency always remained opposed to considering a solution via quotas, recognizing the potential distortions of a managed trade and its conviction that free trade will continue to strengthen the competitiveness and prosperity of North America.
Finally, the agency added that it will work with the Office of the Commercial Representative of the neighboring northern country for the implementation of the agreement reached last Friday, in order to guarantee the competitiveness of the Mexican steel and aluminum sectors and promoting the creation of a competitive market in North America.
Latest posts by Katherine Bellis (see all)
- Panic in Argentina’s financial markets following Macri’s defeat - August 13, 2019
- Flights in London canceled due to billing problems - August 7, 2019
- Apple launches a new credit card - August 6, 2019