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After a year of negotiations, the US government has warned Mexico to address the growth of steel and aluminium exports to the United States. The US could reimpose Section 232 tariffs if necessary, according to a 2019 agreement. US Trade Representative Katherine Tai met with Mexican Minister of Economy Raquel Buenrostro to discuss trade issues. Tai urged Mexico to act against the increase in exports and lack of transparency in steel imports.
Buenrostro expressed readiness to combat the triangulation of steel and aluminium. Triangulation involves goods passing through an intermediary to the end consumer, possibly involving China using Mexico to supply the US market. Mexico attributes the export growth to US market demand and increased production, denying commercial triangulation as alleged by the US.
Despite Mexico imposing a 25% tariff on steel imports from non-trade agreement countries last August, the US remains concerned. The threat is exacerbated by the lack of transparency, with Mexico's national statistics agency (Inegi) delaying export data publication and removing steel and aluminium production information from public access. Canacero, the National Chamber of Iron and Steel Industry, rejects claims of lack of cooperation and transparency, citing significant steel trade between the US and Mexico.
The US Trade Representative emphasised continued negotiations, with Mexico suggesting an agenda focusing on cooperation between anti-dumping agencies and enhancing regional tracking mechanisms. In December 2023, the US extended the suspension of Section 232 tariffs on European steel and aluminium until December 31, 2025.
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