April 26, 2024
Industrials
Mexico extends anti-dumping duty on Korean steel
[THE INVESTOR] Mexico has extended its provisional anti-dumping duty on steel products from Korea by six months, according to a trade agency on April 13.
Mexico first imposed the 15 percent tariff in October 2015 on 97 steel products from South Korea, China and other countries. The tariff was due to expire at the end of this month and has been extended till October, the Korea Trade-Investment Promotion Agency said.
Local industry estimates show that Mexico’s imports of steel products from Korea dropped 15.8 percent after the tariff measure, from US$1.08 billion to $917 million.
Officials in Mexico demanded that the provisional tariff be continued in order to protect the local industry from Chinese imports.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
Mexico first imposed the 15 percent tariff in October 2015 on 97 steel products from South Korea, China and other countries. The tariff was due to expire at the end of this month and has been extended till October, the Korea Trade-Investment Promotion Agency said.
Local industry estimates show that Mexico’s imports of steel products from Korea dropped 15.8 percent after the tariff measure, from US$1.08 billion to $917 million.
Officials in Mexico demanded that the provisional tariff be continued in order to protect the local industry from Chinese imports.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
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