MEXICO CITY: Mexican lawmakers backed a measure this week to raise tariffs on goods from China and other countries that have no trade agreement with Mexico, a move Beijing said would harm its interests.
The bill was spearheaded by President Claudia Sheinbaum and approved by the Senate 76-5 this week.
It increases tariffs on imports of automobiles, textiles, clothing, plastics, appliances and other products – primarily affecting Chinese goods.
Changing tariffs will also affect South Korea, India, Indonesia, Russia, Thailand, Turkiye, Taiwan and Brazil.
Sheinbaum must now ratify the tariffs, expected to take effect January 1, 2026.
The proposed tariff rates had been lowered from an initial suggestion of 50%, down to 20 or 35% for most categories of goods. The 50% rate would still apply in some cases.…
