China’s Ministry of Commerce said Thursday it would closely monitor Mexico’s tariff regime on imports from countries without Free Trade Agreements, including China, and assess its impact.
Once adopted, the measures “will substantially undermine” trade interests, the ministry said in a statement.
“China has always opposed all forms of unilateral tariff increases and hopes Mexico will correct such unilateral and protectionist practices as soon as possible,” it added.
The Chamber of Deputies approved on Wednesday a tariff increase of up to 50% for next year on thousands of products imported from China and other Asian countries, seeking to strengthen domestic production and address trade imbalances, despite strong resistance from local business groups and the governments involved.
The proposal, which must be approved by the Senate to take effect, proposes raising or applying new tariffs – mostly up to 35% – throughout 2026 on imports of thousands of products, including automobiles, auto parts, textiles, clothing, plastics and steel from China and other Asian nations that do not have a trade agreement with Mexico, such as India, South Korea, Thailand and Indonesia.
Source: eleconomista
