The continuing use of trade tariffs applied to global movements of steel and aluminium products is expected to open up opportunities for strategic investors in metals and mining which are looking to consolidate and stay competitive, according to a report by global consultancy firm PwC.
PwC noted that foreign businesses are starting to target inbound mergers and acquisitions (M&A) activity in the United States to set up direct operations.This is encouraged by the fact that the US has maintained its stance on its Section 232 metal tariffs against Mexico and Canada, ordered in June, despite a three-way agreement at the end of September to replace the North American Free Trade Agreement (Nafta) with the US-Mexico-Canada Agreement (USMCA).US companies are also allowed to petition for exemptions from tariffs where they require highly specialized metal imports that cannot be produced domestically, PwC said."This is...