It has been announced by the United States that new import duties on more than $1bn imported structural steel from Mexico and China, the US is accusing Mexico and China of dumping product on the US market. According to reports, Chinese and Mexican companies and producers are allegedly dumping fabricated structural steel – such as rods, joists, and I-beams- at margins of between zero and 141.4 percent, according to the reports released by the Commerce Department on Wednesday. It has been also stated by the department that it had rejected such alligations concerning similar products from Canada, but however, the findings were the result of a complaint lodged in February by the members of the American Institute of Steel Construction in Chicago.
This decision of increasing duties comes after US President Donald Trump in May agreed to lift punitive duties on steel from Mexico, which joined Canada and US in negotiating a new North American trade pact last year. Last year, Mexican and Chinese imports of structural steel were together valued at $1.6bn. A final determination by the Commerce Department is due early in 2020. If the preliminary findings are upheld, the duty increases could still be reversed by the US International Trade Commission, which examines whether the imports have harmed a US industry.