Mexico announced sweeping tariff hikes on $52 billion worth of imports, including a sharp increase on vehicles from China and other Asian nations, as it seeks to shield domestic industries from mounting competition.
Mexico City, Sept. 11 — The Mexican government said Wednesday it will raise tariffs to 50% on automobiles from countries with which it has no free trade agreements — notably China, South Korea, India, Indonesia, Russia, Thailand and Turkey.
The decision is part of a broader package that will apply higher duties across multiple sectors covering about $52 billion in imports, aimed at strengthening Mexico’s industrial base and reducing reliance on low-cost foreign goods.
Economists say the move underscores Mexico’s growing role as a key manufacturing hub under the USMCA trade pact, while also intensifying global trade frictions with major exporters in Asia.
Post a Comment