Mexico's Senate has approved tariff increases of up to 50 percent on imports of about 1,400 products from Asian countries, including India and China, effective 2026. The move targets goods such as clothing, footwear, appliances, furniture, auto parts, plastics, steel, toys, textiles, leather, aluminium, motorcycles, and cosmetics.
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The measure aims to protect domestic industries struggling to compete with cheaper imports and to boost local production. Deputy Ricardo Monreal, Morena's leader in the Chamber of Deputies, said supporting Mexican industry is "to create jobs" and reduce reliance on imports, particularly from China, with which Mexico has a significant trade imbalance.
The bill passed with 76 votes in favour, 5 against, and 35 abstentions. Critics warned of potential social impacts, as tariffs will affect everyday consumer goods. Analysts suggest the policy also seeks to strengthen Mexico's position ahead of the upcoming United States–Mexico–Canada trade review.
China criticised the measure, stating it "always opposed unilateral tariff hikes" and urged Mexico to correct "its wrong practices of unilateralism and protectionism." Beijing added that the tariffs, even with some reductions for auto parts and light industrial products, could substantially harm trading partners' interests.
Other countries affected include South Korea, Thailand, Indonesia, Brazil, South Africa, and the United Arab Emirates. The government expects the tariffs to generate an additional 70 billion pesos (US$3.8 billion) annually.
Source: www.msn.com
