Mexico’s chamber of the iron and steel industry, Canacero, has teamed up with the nation’s tax authority, SAT, to fight unfair steel trade, Canacero said on a press release sent to SteelOrbis.
According to the Mexican steel association, the permanent working group was formed to “prevent” and “detect” frauds, while seeking fair conditions for the trade of steel.
In a meeting with SAT, Canacero said both sides agreed that working with the local steel industry will allow the working group to identify “opportunity” and “risk” areas, so it can fight irregularities in foreign trade, such as sub-valuation, triangulation, illegal use of customs regimes, among other practices.
Canacero said the meeting helped Canacero and SAT to “establish the bases” for the next collaboration agreement in trade practices, which could include verification of origins of a product overseas, as well as trend analysis in imports with countervailing duties and the potential measures of control for the steel industry.
“This agreement will also allow [us] issue joint press releases to retain conducts [that are] out of the legal framework, a scheme for the control of bails [paid] for the provisional imports and the verification of new companies of the manufacturing, … services and exporting industries,” Canacero said.