The US, Mexico, and Canada, the partner countries under the US-Mexico-Canada Agreement (USMCA) have decided to work together to reduce the impact of steel dumping in the region.
During the 31st meeting of the North American Steel Trade Committee (NASTC), governments and industry representatives of the three countries discussed strategies on reducing imports from countries like China that are overproducing the metal and exporting it to North America at rates that are much lower than domestic steel prices.
Such unfair trade practices, which have distorted the steel market and affected domestic producers, are another challenge that countries in the region will have to tackle, the Mexican Ministry of Economy (SE) reported in a statement.
Luz María de la Mora, Undersecretary of Foreign Trade, SE, urged the NASTC to strengthen joint work, as well as to use the mechanisms already available in the T-MEC to face this problem both at the regional and global levels.
She also recalled the importance of the steel sector in the development and economic recovery of the three countries.