High tariffs in Mexico

MEXICO'S Commerce Ministry said yesterday it would impose dumping tariffs of 105 per cent on Chinese-made iron and steel valves, compared with the existing tariff of 15 per cent.

The government's decision to levy the tariffs comes six months after it initiated an investigation into allegations that Chinese-made iron and steel valves had been sold in Mexico at below market prices.

The decision came after the Mexican National Association of Valve Manufacturers filed an official complaint, accusing US exporters of selling Chinese-made valves at predatory prices.

The Chinese company Suzhou Valve Factory has also been accused of unfair trade practices.

The government said evidence had been presented to support the allegations that Chinese-made iron and steel valves sold at below market prices were harming local production.