Asian steel exporters expected to be less affected by US-Mexico import restrictions

Despite the joint efforts by the US and Mexican governments to curb imported steel products entering the US market via Mexico, the projected impact on Asian steel exporters, including China, South Korea, Japan, Vietnam, and Taiwan, is expected to be minimal. Only 13% of the steel exported from Mexico to the US has not been melted and poured in Mexico.

In 2023, Taiwan exported approximately 293,000 tons of steel products to Mexico, marking an increase of 40,000 tons from the previous year. During the first half of this year, Taiwan exported a total of 119,000 tons of steel products to Mexico, with annual exports projected to reach around 237,000 tons—falling short of the previous year's volume. Consequently, Taiwan is expected to experience only a slight impact from the new restrictions.