In response to concerns raised about the lack of transparency in their surveillance system, the United States and Mexico have jointly announced their decision to reinstate monitoring measures for steel and aluminum exports from Mexico to the U.S. market. The aim is to prevent the circumvention of trade regulations involving products from third countries, as confirmed by both governments.
The Office of the United States Trade Representative has reported that Ambassador Tai and Secretary Buenrostro, representing the U.S. and Mexico, respectively, have recognized the importance of bolstering efforts to monitor steel and aluminum trade. They have instructed their respective teams to collaborate on reinstating Mexico's export monitoring regime.
This development occurred on the eve of the third meeting of the High-Level Economic Dialogue between the two nations. United States Trade Representative (USTR) Katherine Tai held discussions with Mexico's Secretary of Economy, Raquel Buenrostro, and Mexican Foreign Minister Alicia Bárcena in Washington.
During the meeting, Ambassador Tai and Secretary Buenrostro emphasized the need to address concerns arising from recent trends in Mexican steel and aluminum exports to the United States. They also highlighted the lack of transparency in Mexico's steel and aluminum imports from third countries.
Notably, several major steel-producing companies affiliated with the Mexican Chamber of the Iron and Steel Industry (Canacero), such as Arcelormittal, DeAcero, Gerdau, TenarisTAMSA, Ternium, and Outokumpu, recently participated in the U.S. interoperability pilot program with Customs and Border Protection (CBP). Their collaboration aims to establish global standards to promote transparency within the industry.
Furthermore, Ambassador Tai reiterated U.S. concerns regarding Mexico's energy policy and the methodology used to determine rates for Mexico's radio spectrum. These concerns are seen as hindrances to competition in the telecommunications sector.
Vietnam Steel by Hoa Sen Group