On September 20, 2019, Minister of Finance and Public Credit – Andrés Manuel López Obrador and Minister of Economy – Arturo Herrera Gutiérrez signed a decision to amend the Import Tariff of steel items in effect since September 23, 2019.
Under the old policy, the import tax of steel items to the Mexican market was 0%. This is seen as an open-door policy without over-selecting the import source of this market. Because of the 0% import tariff, Mexico has become a lucrative market for steelmakers around the world and affecting domestic production, as well as sources of imports from allied countries of Mexico.
Realizing this, from the beginning of 2019, since the new government came to power, Mexico has been preparing to change the import tax policy to rearrange the source of imported goods into this market.
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