Mexico Faces Down Import Dumping with Strategic Tariffs

Mexico's Economy Minister Marcelo Ebrard announced measures to tackle the surge of low-cost steel and textile imports, known as dumping. Efforts include deregistering half the steel importers and imposing tariffs on textiles. The government is also using reference prices to protect local industries against unfair trade practices.

Mexico has taken decisive steps to combat the influx of low-cost steel and textile imports, a practice known as dumping, announced Economy Minister Marcelo Ebrard on Monday.

Ebrard shared that a review of the approved steel mills for importing into Mexico led to the deregistration of about half of them due to involvement in unfair trade practices.

In addition, Mexico has imposed tariffs on some textile imports and plans to meet with business leaders to discuss further actions. To safeguard against unfair practices, the government is also setting reference prices for imports of various products.

(With inputs from agencies.)