LatinNews Daily - 25 June 2018

* The president of Mexico’s national iron and steel industry chamber (Canacero), Máximo Vedoya, has said that the domestic steel industry is preparing a plan to minimise the impact of the recently introduced 25% steel import tariffs imposed by the US government. It has been calculated that the import tariffs imposed by the US will produce some US$2bn in economic damages for Mexico’s steel industry. However, Vedoya has said that the sector is preparing a contingency plan to address this. According to Vedoya, the plan involves assuming part of the cost instead of passing it on to US buyers so as to maintain competitive prices; increasing exports to other countries with which Mexico has free trade agreements; and seeking new export markets in Europe and Central America. 

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