U.S. and Mexico Strengthen Steel and Aluminum Tariff Policies

The U.S. and Mexico announced new measures to combat tariff circumvention on steel and aluminum by implementing a 'melted and poured' standard. Imports must be documented to avoid tariffs, and officials stress the importance of accurate reporting. This move aims to bolster North American supply chains and prevent market flooding by China.

Devdiscourse News Desk | Updated: 10-07-2024 18:32 IST | Created: 10-07-2024 18:32 IST
U.S. and Mexico Strengthen Steel and Aluminum Tariff Policies
AI Generated Representative Image

The U.S. and Mexico on Wednesday unveiled new strategies to counter the circumvention of U.S. steel and aluminum tariffs by China and other countries. These measures include implementing a North American 'melted and poured' standard for steel.

According to the White House, President Joe Biden's new policy mandates that steel imports from Mexico face 25% 'Section 232' tariffs unless verified to have been melted and poured in Mexico, the U.S., or Canada. Aluminum imports will face a 10% tariff unless free of Chinese, Russian, Belarusian, or Iranian primary aluminum.

Importers must provide a certificate of analysis to U.S. Customs and Border Protection showing the metals' origin. Both countries will enforce policies to prevent tariff evasion and strengthen regional supply chains. This move follows concerns over China's export market flooding and Biden's increased tariffs on Chinese goods last May.

(With inputs from agencies.)

Give Feedback