Mexico Walks Back Aluminum Tariff

On May 8, 2024, the Mexican government revoked the 35% tariff on unwrought unalloyed aluminum (i.e., primary ingots) and 20% tariff on unwrought alloyed aluminum (i.e., billets and slabs). Read the full story in S&P Global HERE. The revocation of the tariff comes less than a month after the tariff implementation. While the tariffs announced in April are still in place for the entire continuum of extruded profiles which protect Mexican extruders from products entering Mexico for consumption in Mexico, the cancellation of the tariffs on alloyed and unalloyed aluminum ensure the continuation of Chinese and Russian aluminum entering the US and Canadian markets via Mexico as extrusions.