Russia is analyzing the Mexican government’s plans to raise tariffs on imports of Russian products from the current 20 percent to 50 percent by 2026, the ambassador to the Latin American country, Nikolai Sofinsky, said.
“The aforementioned plan by the Mexican authorities was announced recently. Russia is studying this matter and will pay due attention to it,” the diplomat told Sputnik.
Last Thursday, Mexican President Claudia Sheinbaum confirmed her plan to increase tariffs on imports of products from Russia, China, and other countries from the current 20 percent to 50 percent by 2026.
The president added that the new tariffs contained in the 2026 Economic Package, submitted to Congress on September 8, are part of Mexico’s Plan to attract foreign and domestic investment that will advance Latin America’s second-largest economy from 12th to 10th place worldwide by 2030.
The new level of import taxes, which must be approved by the Legislature in October, would apply to countries such as China, South Korea, India, Indonesia, Russia, and Thailand, according to the federal government’s revenue and expenditure project for next year, according to the Ministry of Economy.
The Federal Ministry of Economy released a list of 19 import sectors and more than 1,400 new “tariff items,” including automobiles, clothing, plastics, manufactured goods, aluminum, and glass, among others, from China and other nations without a free trade agreement with the United States.
The Mexican president assured that the measures are within the established rules of the World Trade Organization, which allow tariffs on imports to be raised up to certain limits.
Sheinbaum denied that her new trade policy is related to negotiations with her US counterpart, Donald Trump, who is threatening 30 percent tariffs on Mexican exports.
Source: jornada
