According to a statement from the Mexican Ministry of Economy, the country will resume 15 percent tariffs on steel imports from countries that did not have free trade agreements until 2024.
On March 25, 2019, the Ministry of Economy changed the tariff to increase the import tariff by 186 sections of metal products, so that the country's steel industry could face an overabundance of world steel production.
According to the Official Gazette, this decree entered into force on September 22, 2019. The applicable tariff will be 10% starting from September 22, 2021, 5% starting from September 22, 2023, and will be released from August 22, 2024.
