Biden Announces Tariffs on Chinese Metals Routed Through Mexico
The Biden administration imposed tariffs on Chinese metals routed through Mexico to prevent tariff circumvention. The measures target Mexican steel and aluminum containing metal smelted in specific countries. The U.S. aims to protect its producers from unfair competition and address Chinese overcapacity in steel production.
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The Biden administration announced tariffs on Chinese metals routed through Mexico to prevent circumvention of American tariffs. The new measures impose a 25% tariff on Mexican steel melted or poured outside North America and a 10% tariff on Mexican aluminum containing metal smelted in China, Belarus, Iran, or Russia. These tariffs aim to close a trade loophole allowing cheap Chinese metals to enter the U.S. duty-free. The U.S. seeks to protect American steel and aluminum producers from unfair competition. Chinese officials criticized the move, calling it a protectionist measure. American industry representatives welcomed the action but urged vigorous enforcement. The administration worked with Mexico on the tariffs and raised concerns about Chinese trade practices. Discussions will continue with Mexico regarding steel imports. The U.S. is concerned about China's overcapacity in steel production and its impact on global markets, considering potential defensive actions to protect American interests.
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