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Mexico Extends Temporary Duty Increase on Certain Iron and Steel Products

The Mexican government has extended for an additional six months, from 26 March through 22 September, a temporary increase from zero to 15 percent in the most-favoured-nation duty rate for iron and steel products classified under 186 separate tariff lines within HS Chapters 72 and 73. This temporary tariff hike was originally adopted on 5 June 2018, although 97 of these tariff lines had previously faced temporary duties also of 15 percent. Mexican authorities consider that this tariff increase is justified by the continued lack of distortion-free competition between the steel industries of various countries, combined with a fall in prices and trade diversion due to an increase in global steel supply.

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