Mexico slaps tariffs on Chinese steel pipe for ‘unfair’ pricing

MEXICO CITY (Reuters) – Mexico’s economy ministry said on Thursday it formally imposed anti-dumping duties on imports of carbon steel pipe from China after completing an investigation into “unfair” trade practices.

The action came the same day U.S. President Donald Trump was set to announce tariffs on steel and aluminum imports to the United States in a bid to counter cheap imports, especially from China.

Mexico’s investigation of Chinese steel pipes predated Trump’s tariff plan, beginning in December 2016 at the request of three companies and covering an analysis of the period from May 2013 to April 2016, the notice said.

The duties replace provisional duties imposed last year.

Mexico’s economy ministry said in a notice in the government’s official gazette that the measure applies to imports of carbon and alloy steel pipes from China.

Mexico has imposed duties on steel products from several countries in recent years after local steelmakers announced cuts in thousands of jobs in 2015 and canceled investments.

Trump plans to offer Canada and Mexico a 30-day exemption from his tariffs, which could be extended based on progress in talks to renegotiate the North American Free Trade Agreement (NAFTA), a White House official said on Wednesday night.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.