Reduces weight 25% of the fee from the United StatesMexico’s steel industry doubled its commitment to President Shinbam Mexico project Last week, in the next five years, it ensures that it will invest US $ 8.7 billion over the next five years.
The National Steel and Iron Industrial Room (Canasero) Chairman Watter Martinez Cairo said that “funds to expand the facilities (US) fees (with or without fees,” said Watter Martinez Cairo, while all members of his room were planning Mexico.
Mexico project – The National Strategy for officially industrialization and shared prosperity – President Shinbam’s Economic Development Program focuses on strengthening the country’s role in the global value chains.
Kanasero’s revealed goal is to fulfill all the steel requirements of Mexico through local production. However, Kanasero has suggested that the Mexican government would have to take action to do so.
One of those measures is to abandon the Trans-Pacific Partnership (TPP) free trade agreement. The Canasero asked the administration to do so, or at least the use of steel fees imported from Vietnam and Malaysia.
A significant amount of steel is imported from Vietnam and Malaysia to Mexico, the US market is the final place, Kanazero. This means that China uses TPP to triangle through its steel Mexico and in the United States, which is determined to eliminate the US government.
Members of the Mexican government say that the US is ready to take up fees on steel imports to the US in exchange for Asian imports.
Mexico’s government is holding talks while expressing confidence in negotiations US charges on steelMartinez Cairo said he believed that “there is a chance to create cooperation with the United States.”
“This is the moment to join forces to eliminate the unwavering practices that affect our countries and our businesses,” he said. “We would like to work together as a regional camp to strengthen national and regional content.”
Martynes Cairo said that neighbors import about 9.7 million tonnes of steel from Asia every year. It will be a gift for both countries to change this with domestic and regional production.
Mexico uses about 30 million tons of steel each year. Kanasero claims its five -year investment plan, Originally advertised in February, The country seeks to meet all the domestic needs of the country, meets its own production with imports from the United States and ends the credibility on the most subsidized Chinese steel.
Steel bilateral trade between Mexico and the United States is about 7.6 million tonnes annually – 4.4 million tonnes from the United States to Mexico and 3.2 million tonnes from Mexico to the United States
Therefore, Martinez Cairo points out that the United States is in 1.2 million tonnes of trade surplus Steel Wiz-A-Vis Mexico, which is unreasonable for a trade war.
With reports from Forbes MexicoOvarian Economist And Axial business
