Reinstating Tariffs on Mexican Steel Imports to Protect US Industry.
This bill mandates the re-imposition of tariffs on steel imported from Mexico for at least one year. The goal is to protect American steel producers and jobs, as Congress believes Mexico has violated prior trade agreements. This action could potentially stabilize domestic steel prices but might increase costs for consumers buying products that rely on steel components.
Key points
Mandatory re-imposition of tariffs on steel imported from Mexico, set at the May 2019 rate, for a minimum of one year.
The President gains authority to set supplementary quotas to limit Mexican steel imports to historical trade volumes.
Tariffs can only be lifted if Mexico certifies compliance with previous trade commitments made to the United States.
Expired
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