Mexico should seek tariff exclusion before closing NAFTA - steel lobby

Mexico should seek tariff exclusion before closing NAFTA - steel lobby

MEXICO CITY (Reuters) - Mexico should seek exclusion from U.S. tariffs on steel imports before closing the renegotiation of the North American Free Trade Agreement (NAFTA), the country's steel industry association CANACERO said in a statement on Wednesday.

Citing national security concerns, U.S. President Donald Trump slapped tariffs on steel and aluminium at the end of May after a so-called Section 232 investigation, prompting retaliation from trade partners including Mexico and Canada.

"It's difficult to understand how Mexico could accept updating NAFTA without resolving the problems created by the application of the measure under Section 232," CANACERO said.

The group said Mexico should impose equivalent measures against U.S. steel imports in the meantime.

(Writing by Daina Beth Solomon)

This story has not been edited by Firstpost staff and is generated by auto-feed.


Updated Date: Aug 30, 2018 02:05 AM

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