Metal & Oil & Gas News – Nctv.net
Mexico will begin to tax a range of US products in retaliation for tariffs on Mexican steel and aluminium that US President Donald Trump announced last week. Mexican Economy Minister Ildefonso Guajardo told reporters “Mexico’s actions are within the rules of the WTO and NAFTA. Within the context of the rights that the existing accord gives us, we are answering.”
STEEL PRODUCTS
25% rate on steel from US. In order to counter an expected wave of shipments to Mexico from countries that were hit by US steel tariffs and are looking for other markets, Mexico put a 15% tariff on steel imports from other countries
PORK PRODUCTS
20% on US pork legs and shoulders as well as hams and sausages
AGRICULTURAL GOODS
20% on apples, potatoes, cranberries, parmesan and grated cheese
BOURBON, CHEESE
25% on “Tennessee” whiskey and bourbon, fresh cheese
LIGHTING FIXTURES, MOTOR BOATS
From 7-15% on some types of metal furniture, lamps and lighting fittings, fans and air pumps, aluminium kitchen wares and motor boats
Mexico said on Monday that it will complain to the WTO over the US measures, saying that it violates the organization’s agreement on safeguards by not having been adopted in accordance with the procedures provided, in addition to violating the General Agreement on Tariffs and Trade.
Source : BLOOMBERG
Yaang Pipe Industry Co., Limited (www.yaang.com)
