The Mexican government plans to apply 15% import duties to steel that has come from countries that it does not have a free trade agreement (FTA) with. Imports in 2018 from non-FTA countries were worth $7.47 billion, or 28.5% of total steel shipments. A 23.0% year over year growth in imports from non-FTA countries – led by China and South Korea – is likely the major reason for the government triggering the higher tariffs. The two largest shippers were Posco, which accounted for 10.7% of non-FTA imports, and Ternium which delivered 14.1% of non-FTA shipments. Both significan...