The National Chamber of the Iron and Steel Industry (Canacero) of Mexico has addressed concerns regarding the impact of Mexican steel exports on the U.S. market. According to Canacero, Mexican steel exports represent a mere 2.5% of the U.S. market share, whereas U.S. steel exports constitute 13.9% of Mexico's domestic consumption. This data underscores the balanced trade relationship between the two countries.
In response to discussions about potential reinstatement of Section 232 tariffs on Mexican steel, Canacero emphasizes that such measures are unwarranted. The organization points out that Mexico maintains a steel trade deficit with the U.S., amounting to $3.2 billion—the largest in history. Mexico exports 2.3 million metric tons of finished steel products to the U.S., while importing 4.1 million metric tons from the U.S. These figures highlight the significant role of U.S. steel in the Mexican market.
Canacero also refutes claims that Mexico serves as a conduit for Chinese steel into the U.S. market. The organization asserts that there is no evidence supporting allegations of transshipment or circumvention of trade regulations. To further transparency and cooperation, Canacero members have participated in traceability pilot programs with U.S. Customs and Border Protection, demonstrating a commitment to adhering to trade agreements and ensuring the integrity of steel exports.
The Mexican steel industry continues to advocate for collaborative efforts between Mexico and the United States to address common challenges and promote fair trade practices. By working together, both nations can strengthen their steel sectors and contribute to the economic prosperity of the region.
Vietnam Steel by Hoa Sen Group