México bets on strengthening the steel industry in North America / @SE_mx >>>

#SE.- The Ministry of Economy held a meeting today with officials from the office of the United States Trade Representative (USTR) to continue the dialogue and cooperation between the two countries and strengthen the steel industry in the region.

In a joint effort to strengthen the trade relationship and defend the interests of the steel sector, Mexico and the United States collaborate openly to avoid unfair practices and ensure transparency in steel trade in the North American region.

Currently, there is great concern due to the global steel production overcapacity, which in 2022 was 631.9 million tons of which 18.4 million tons were produced in Mexico. The excess capacity is equivalent to more than 4 times the production of the entire American continent, which represents a risk factor for unfair trade practices.

Particularly in North America -Mexico, the United States and Canada- we have close trade integration in the region, favored by the evolution of the Free Trade Agreement, with the steel industry being one of the sectors with the greatest integration.

During 2023, trade flows of finished products between the two countries amounted to more than 6 million tons, of which Mexico imported 4.1 million tons from the United States, while the United States imported 2.3 million tons from Mexico.

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