Mexico slaps tariffs of up to 50 per cent on Chinese goods as US trade pact review looms

Mexican President Claudia Sheinbaum on Thursday defended her government’s decision to impose new import tariffs, hours after the Senate approved legislation allowing duties of up to 50 per cent on more than 1,400 products from Asian countries. The measure, widely seen as aimed at curbing Chinese imports, comes as Mexico prepares for a review of its trade agreement with the United States and Canada next year.

“We want Plan Mexico to be fulfilled without causing a problem for the national economy, and within that framework Congress approved these tariffs,” she told reporters at the National Palace.

“They are aimed at countries with which Mexico does not have a trade agreement. It is not about restricting trade between nations.”

The Senate passed the reform with 76 votes in favour, five against and 35 abstentions, after the Chamber of Deputies endorsed it earlier in the day. The law applies to 1,463 products ranging from textiles and footwear to household appliances, vehicles, auto parts, plastics and metals, with tariffs set between 5 and 50 per cent.

Mexican President Claudia Sheinbaum says her government consulted domestic and foreign business leaders before finalising the tariff measure. Photo: EPA

According to the Finance Ministry, the measure could raise about MXN$52 billion (US$2.88 billion) next year. Officials noted the goal is to protect local industries and reduce dependence on cheap imports from countries without trade agreements with Mexico.

South China Morning Post