US President Biden has announced new measures on steel imports

President Joseph R. Biden has signed a proclamation instituting new regulations and tariffs on steel imports, specifically targeting products originating from Mexico. This action is intended to support the American steel industry and ensure the integrity of trade practices.

To ensure the origin of steel imports is transparent, a new melt and pour requirement has been established. Steel articles and derivative steel articles imported from Mexico will only be exempt from increased tariffs if they are melted and poured in Mexico, Canada, or the United States.

Importers of steel and derivative steel articles must now provide U.S. Customs and Border Protection (CBP) with detailed information about the countries where the steel was melted and poured.

This proclamation aims to bolster the U.S. steel industry by ensuring fair trade practices and maintaining robust domestic production standards.

Source: White House, Photo: Fotolia