WASHINGTON (AP) — Mexico’s National Chamber of the Iron and Steel Industry is congratulating the country’s officials on the agreement reached with the United States on ending steel and aluminum tariffs.
The chamber says in a statement posted online that it considers the deal “a strong and very positive step for industry in the entire region.”
It also calls it “a great advance” toward ratifying the new trade deal between Mexico, the United States and Canada.
The chamber added Friday afternoon that, “As we have reiterated on diverse occasions, free and fair trade in the region favors the competitiveness of North America.”
The office of United State Trade Representative Robert Lighthizer says an agreement reached with Canada and Mexico allows the U.S. to reimpose steel and aluminum tariffs if there is a “surge” in imports of those products.
President Donald Trump had imposed tariffs of 25% on imported steel and 10% on imported aluminum in the name of national security. But that brought retaliation on U.S.-made goods, hitting American manufacturers and farmers.
The three nations agreed Friday to drop those tariffs.
Lighthizer’s office says the agreement ending the dispute ensures that if the U.S. does reimpose tariffs, Canada and Mexico must limit retaliation to American steel and aluminum products.
The statement describes the agreement as “great news for American farmers” that continues to protect America’s steel and aluminum industries.
Mexico is hailing as “very satisfactory” an agreement with the United States to end U.S. tariffs on Mexican steel and aluminum as well as lift retaliatory measures imposed by Mexico.
President Andrés Manuel López Obrador’s office says in a statement that the deal restores “commercial exchange free of tariffs for these products.”
It says both countries will work to prevent imports of the metals at dumping prices, and have agreed to monitor aluminum and steel trade.
López Obrador’s office says both countries also agreed to end pending litigation over the issue before the World Trade Organization.
Mexico adds that it consulted with Canada and pushed three-way dialogue regarding the tariffs.
