The Mexican government is willing to impose a 50% tariff on automobiles imported from China, which represents a significant increase compared to the current tariffs of 15 to 20%.
The decision, which comes after the U.S. pressured the Mexican government to adopt measures to protect the national industry, is part of a bill that proposes tariff increases on about 1,400 products from countries without a trade agreement with Mexico.
However, according to the British “Financial Times,” Chinese automobiles are the most affected by this government bill led by Claudia Sheinbaum.
It is worth noting that Mexico is the largest Latin American buyer of automobiles manufactured in China, ahead of the United Arab Emirates and Russia, according to the consultancy “Automobility.”
According to “Reuters,” the measure of the Mexican government’s plan aims to strengthen domestic production, reduce dependence on imports, and protect jobs in a strategic sector.
The Mexican Minister of Economy, Marcelo Ebrard, has already argued that, without some level of protection, it will be “almost impossible to compete” given the growing weight of Chinese exports.
