Mexican Financial system Minister Ildefonso Guajardo mentioned he’ll communicate by phone with Canadian officers on Friday and search to influence them to exclude Mexican metal from new commerce measures introduced by Canada this week.
The Canadian authorities mentioned it will impose new quotas and tariffs on imports of seven classes of metal from many nations together with Mexico to go off a possible rise in imports that the US fears may very well be improperly routed by way of amenities in its northern neighbour.
“What we’re strongly rejecting is that Canada has not excluded its (principal commerce) companions within the protections,” Guajardo instructed reporters following a gathering with enterprise leaders, noting that Mexico excludes each U.S. and Canadian metal exporters from its personal 15 per cent metal tariff utilized to different nations.
Guajardo, who mentioned he estimates a $200 million influence on Mexican metal exporters on account of the Canadian measures, mentioned he’s not but contemplating any retaliatory measures towards Canada.
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“We first have to speak with the Canadians to attempt to make our greatest effort to be excluded,” he mentioned.
The administration of U.S. President Donald Trump imposed tariffs on imported metal and aluminum from Canada and Mexico in June, citing a threat to U.S. nationwide safety.
Although Canada and Mexico have agreed to a renewed continental commerce deal, the U.S. metals measures stay in place.
Mexico’s high commerce official criticized what he known as the “profound distortions” the U.S. measures have triggered.
“We expect we’re affecting the mixing of the North American metal trade,” mentioned Guajardo.