Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Mexico approves up to 50% tariffs on China, other Asian nations
(Bloomberg) -- Mexican lawmakers gave final approval for new tariffs on Asian imports, broadly aligning with US efforts to tighten trade barriers against China, as President Claudia Sheinbaum seeks to protect local industry.
Mexico’s Senate on Wednesday voted in favor of the bill that imposes tariffs of between 5% and 50% on more than 1,400 products from Asian nations that don’t have a trade deal with Mexico. The bill passed with 76 votes in favor, five against and 35 abstentions.
The new levies will take effect starting next year and hit a wide range of products from clothing to metals and auto parts, with the massive output of Chinese factories emerging as the legislation’s focus.
Passage of the bill took place against the backdrop of Sheinbaum’s high-stakes trade talks with President Donald Trump and pressure to match his priorities, fueling hopes Mexico’s levies on Chinese goods could ease punishing US tariffs on goods like Mexican steel and aluminum.
Mexico’s Senate on Wednesday voted in favor of the bill that imposes tariffs of between 5% and 50% on more than 1,400 products from Asian nations that don’t have a trade deal with Mexico. The bill passed with 76 votes in favor, five against and 35 abstentions.
The new levies will take effect starting next year and hit a wide range of products from clothing to metals and auto parts, with the massive output of Chinese factories emerging as the legislation’s focus.
Passage of the bill took place against the backdrop of Sheinbaum’s high-stakes trade talks with President Donald Trump and pressure to match his priorities, fueling hopes Mexico’s levies on Chinese goods could ease punishing US tariffs on goods like Mexican steel and aluminum.
https://www.msn.com/en-us/money/markets/mexico-approves-up-to-50-tariffs-on-china-other-asian-nations/ar-AA1S7bMf?ocid=msedgdhp&pc=LCTS&cvid=693a54e2e0e54dff94c4b3bf7f6fa651&ei=13#comments