NEWS

On July 10, according to the Global Times, United States announced a new tariff policy on Chinese steel and aluminum imports. Under the new policy, steel products will face a 25% tariff if they fail to prove to be melted and poured in Mexico, the United States or Canada, though all steel products from Mexico can qualify for duty-free benefits before. Meanwhile, Mexican aluminum imported to the U.S. will carry a 10% tariff if it contains ingredients smelt or cast in China, Russia, Belarus or Iran. This new policy is designed to prevent Chinese-made steel and aluminum products from circumventing tariffs by routing shipments of steel and aluminum through Mexico.