"As of midnight, tariff increases went into effect on 1,463 tariff lines from countries with which the Latin American nation does not have a trade agreement, including China, Russia, South Korea, India, Vietnam, Thailand, and Brazil. Although the tariff adjustment approved by the legislature was lower than the one originally proposed by the executive branch, it will affect more than 1,000 goods. The rates to be paid starting Thursday range from 5% to 50%."
"According to the federal government, the tariff increase will generate 30 billion pesos in revenue annually, while the inflationary impact is estimated at 0.2% by the Ministry of Finance. Through the Official Gazette, the Claudia Sheinbaum administration assured Wednesday that all basic food basket products coming from these countries will be exempt from tariffs throughout 2026. The implementation of this measure, following intense debate in the legislature, represents a turning point for experts in Mexico's role in international trade."
Mexico implemented tariff increases on 1,463 tariff lines from countries without trade agreements, including China, Russia, South Korea, India, Vietnam, Thailand, and Brazil. The adjustment, lower than originally proposed, affects more than 1,000 goods with rates between 5% and 50%. Affected products include electric vehicles, auto parts, cosmetics, plastics, steel, cardboard, acetate, textiles, footwear, toys, furniture, appliances, glass, and soaps. The federal government projects 30 billion pesos in annual revenue and a 0.2% inflationary impact. All basic food basket products from these countries are exempt from tariffs through 2026. The Ministry of Economy may implement measures to guarantee competitive supply, and the changes present challenges for importers and trade relations, particularly with China, where Mexico runs an approximately $120 billion trade deficit driven by high production, low prices, and limited local and regional supply.
Read at english.elpais.com
Unable to calculate read time
Collection
[
|
...
]