Biden Administration Imposes New 25% Tariff on Chinese Steel, 10% on Aluminum via Mexico

Jul 10, 2024, 04:17 PM

The Biden administration announced new tariffs on steel and aluminum imports from Mexico on Wednesday to prevent China and other countries from circumventing existing U.S. levies through transshipment. The new tariffs will impose a 25% duty on steel and a 10% duty on aluminum that are routed through Mexico but produced in China. This measure aims to close a loophole that allowed these metals to enter the U.S. duty-free, impacting trade dynamics between the U.S., Mexico, and China.