Mexico raises tariffs on steel from non-FTA countries

Citing overcapacity concerns, Mexican President Andrés Manuel López Obrador on Monday issued a decree raising tariffs on steel from all countries that do not have a free trade agreement with Mexico. The decree increases tariffs up to permissible World Trade Organization levels, it states. In October 2017, Mexico employed its “Tariff Law of General Import and Export Taxes” (TIGIE) to temporarily raise the import tariff for 97 iron and steel products “to cope with the crisis facing the international steel...