Mexico City, May 17, 2019.- After negotiations between Mexico and the United States on the tariffs imposed on Mexican steel and aluminum under Section 232 of the Trade Expansion Act of 1962, a mutually beneficial agreement has been reached: the tariffs will be removed, and quotas on Mexico's steel and aluminium are avoided. These products will again be traded free of tariffs.
In the spirit of helping to strengthen trade and good understanding in North America, the Mexican government consulted with the Canadian government and promoted the trilateral dialogue during negotiations.
The United States will remove all tariffs on imports of aluminum and steel products from Mexico. For its part, Mexico committed to removing all tariffs it had imposed in retaliation for the measures taken by the U.S. government.
In addition, Mexico and the United States agree to terminate all pending litigation at the World Trade Organization (WTO) related to these tariffs.
Mexico and the United States will take steps to prevent the importation of aluminum and steel at dumped prices, as well as their transshipment outside either of the two countries.
Both countries agreed to establish a way to monitor the aluminum and steel trade between them, as well as a system of consultations.
Mexico has reached an extremely beneficial agreement with the United States, due to both countries' dedication, determination and vision.
The agreement enables us to continue to move forward with ratification of the United States-Mexico-Canada Agreement (USMCA).