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PrintMexico's economy ministry has announced changes in trading rules aimed at combating illegal practices in steel imports. The changes include the suspension of import permits in certain circumstances, including applications submitted with missing or false information or in which the product's destination is different from that given in the permit.
Companies whose import permits are suspended will be given 10 working days to provide further information to support their application, following which the ministry will assess whether the application meets the requirement, which will take up to three months.
If the application is found not to meet the requirements the permit will be canceled, according to the text of the revised rules published on Mexico's official federal diary website.
The changes also include revised definitions of the information that must be supplied with import applications and the types of steel and steel products covered by the new rules.
The rules are aimed at preventing illegal practices in the import of steel and steel products, the most common of which are incorrect classification of products and their origins and undervaluation, with the aim of avoiding duties, the announcement says.
The steel industry is "fundamental" for Mexico's economic growth, supplying sectors such as car making, construction, household products, oil and gas and machinery manufacture, it adds.
Plans for tighter trade rules were first announced at steel chamber Canacero's third Mexican steel industry conference in September.
The economy ministry has launched a string of antidumping investigations into certain types of steel imports in recent months, including imports from China and Russia.
Imports of steel products at below market cost, often subsidized by foreign governments, are seen as a major threat to Mexico's domestic steel industry.
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