As steel complicates trade negotiations with the United States, Ternium assesses additional anti-dumping lawsuits
According to Máximo Vedoya, CEO of steelmaker Ternium, the company is thinking of bringing more anti-dumping cases in Mexico to combat imports, especially those from Asia. This occurs at a time when broader negotiations with the United States are becoming more difficult due to trade frictions involving steel.
After supporting recent petitions in Mexico, Vedoya said it is «very likely» that Ternium will seek further anti-dumping procedures. The corporation plans to open a large steel slab facility in Pesquería, which is close to the U.S. border and the industrial center of Monterrey. With the goal of replacing imports in that nation with domestic manufacture.
Ternium has been the petitioner in a number of Mexican proceedings against steel imports coming from Asia in recent years.
As the USMCA (T-MEC) is being reviewed, steel has emerged as a major concern on the trade agenda between the US and Mexico.
According to Vedoya, the two most important concerns for North America are the tightening of origin regulations and the easing of the burden that U.S. «Section 232» tariffs on steel and aluminum place on regional commerce.
Ternium emphasized that unfairly priced steel is a problem that both Mexico and the US suffer. But Vedoya underlined that Ternium’s direct exposure to US tariffs is now minimal because the company has significantly decreased its exports from Mexico to the US.
Rather, the company is concentrating on increasing its domestic market share versus imported flat steel, especially Asian steel.
