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Ternium SA CEO Maximo Vedoya said the company's steel sales in Mexico are growing as the country's import tariffs prompt customers to shift toward locally produced metal products, but that growth potential is somewhat constrained by weak tariff enforcement. Vedoya noted in an interview that large volumes of foreign steel are still entering the Mexican market, with these products evading tariffs of up to 35% through methods such as under-invoicing, smuggling, or transshipment via third countries. Vedoya said that in the first nine months of this year, the company's shipments in Mexico grew 13%, with about 70% to 80% of that growth stemming from "import substitution." He believes that before Mexico considers following the U.S. and other markets in imposing a 50% tariff on steel products, the priority should be ensuring that all imported products are subject to tariffs equally.