The International Trade Practices Unit (UPCI) at Mexico’s Ministry of Economy has decided to reduce the taxes imposed on galvanized steel imports from Vietnam after its anti-dumping investigation concluded that Vietnam’s steel industry operates under a market mechanism, the Ministry of Industry and Trade has said.

The new tax rates on Vietnamese steel products will range from 0-10.84 per cent.

In August 2021, Mexico commenced an anti-dumping investigation into imports from Vietnam following a request from domestic producers. Then, on September 14, 2022, the UPCI determined an anti-dumping tax rate of 0-12.34 per cent.

This cut to rates by the UPCI will help Vietnamese steel enterprises continue to export to Mexico.

Vietnam earned $170 million from exporting galvanized steel to Mexico in 2020 and $370 million last year, figures from the International Trade Center show.