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The United States has issued a warning about the potential re-imposition of Section 232 tariffs on steel and aluminium imports from Mexico. These tariffs were originally implemented in 2018 but were lifted in 2019. The warning comes amidst concerns about the volume of steel and aluminium imports from Mexico, which have reportedly increased significantly in recent months.
Section 232 tariffs were initially introduced by the Trump administration as a measure to protect the U.S. steel and aluminium industries from what was perceived as unfair competition. The tariffs were met with strong opposition from Mexico and other trading partners, who argued that they were unjustified and could lead to a trade war.
In 2019, the U.S. reached an agreement with Mexico and Canada to lift the tariffs in exchange for measures to prevent the transhipment of steel and aluminium through their territories. However, the recent surge in imports from Mexico has raised concerns that these measures may not be sufficient to address the issue.
The re-imposition of Section 232 tariffs on Mexican steel and aluminium could have significant implications for trade between the two countries. It could also impact the broader relationship between the U.S. and Mexico, which has been strained in recent years over issues such as immigration and border security.
The warning from the U.S. about the potential re-imposition of tariffs highlights the ongoing challenges in the trade relationship between the two countries. It remains to be seen how Mexico will respond to this development and whether further negotiations will be undertaken to address the issue.
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