Trade Cases

Canacero disputes US allegations of Mexican steel export threat

January 19, 2025

Mexican steel trade association Canacero said steel exports from the Latin American country into the US do not pose a threat.

And claims that Mexican steel exports have been the driver of US plant closures and layoffs are “unfounded,” the association said.

“On the contrary, the US greatly benefits from steel trade flows and has a surplus with Mexico,” Canacero said in a statement on Friday.

Citing US government figures, Canacero said the average US surplus has been 1.2 million tons per year from 2015-23. And the US surplus will increase to 2.4 million tons in 2024, or $4.1 billion.

“In 2024, US export tonnage to Mexico rose 10% compared to 2023 – an increase of 23% compared to the 2015-17 average,” Canacero said. “By contrast, Mexico’s exports to the US have fallen 13% compared to 2023, bringing us back to 2015 levels.”

Canacero’s statement comes as some US politicians, boosted by voices in the domestic industry, argue that there has been a “surge” of Mexican steel imports into the US. Some background on the issue can be found here.

The incoming Trump administration, meanwhile, has floated the possibility of enacting tariffs against both Canada and Mexico. Recall, too, that the USMCA agreement is up for periodic review in 2026.

Canacero rebuts circumvention claims

Canacero said allegations of Mexico allowing duty circumvention by China and other countries are “mistaken.”

“From January to October 2024, exports of steel of Chinese origin amounted to only 578 tons, or 0.02% of total Mexican steel exports to the US during this period,” the association said.

Mexico has enacted steel tariff measures of up to 50% against countries with which it has no Free Trade Agreement (FTA), Canacero noted. The country has also implemented anti-dumping duties.

Fortress North America

Canacero said the US, Mexico, and Canada should “continue strengthening North American integration” to better protect themselves against imports from China and Southeast Asian nations.

“We strongly believe that, by working together, our three nations can enhance regional cooperation and mitigate potential national security threats on behalf of a greater USMCA region,” the association said.

The full text of the statement with additional data can be found here.

Ethan Bernard

Ethan Bernard is a reporter and editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.