tariffs<\/a> on imports from mostly Asian countries are \u200bset to take effect on Thursday, in a \u200cmove that will largely align Mexico with the U.S. as the neighboring countries \u200cplace significant barriers on Chinese imports.<\/p>\nApproved by Congress in early December, the measure raises tariffs – most up to 35% – on countries without free trade agreements with Mexico, including China, India, South \u2060Korea, Thailand and Indonesia. \u200cChina is expected to bear the greatest impact.<\/p>\n
The hikes will apply to thousands of products, including \u200dautomobiles, auto parts, textiles, clothing, plastics and steel.<\/p>\n
The move has drawn strong opposition from China and some domestic industries concerned about rising costs.<\/p>\n
Mexican \u200bPresident Claudia Sheinbaum and members of her administration have \u200csaid the tariffs seek to bolster domestic production and address trade imbalances, and insisted they are not directed at a particular country.<\/p>\n
“This tariff modification primarily aims to safeguard nearly 350,000 jobs in sensitive sectors like footwear, textiles, apparel, steel, and automotives, \u2060while contributing to sovereign, sustainable, and \u200binclusive reindustrialization,” Mexico’s economy ministry said \u200bin a statement.<\/p>\n
The levies will also provide an additional $3.76 billion in government revenue next year as Mexico \u200dworks to reduce \u2060its fiscal deficit.<\/p>\n
Many political and trade analysts believe the tariffs, which will primarily affect Chinese goods, are aimed \u2060at placating the Trump administration ahead of the upcoming review of the \u200cU.S.-Mexico-Canada trade agreement (USMCA).<\/p>\n
(Report by Diego Or\u00e9; Edited by Ana \u200cIsabel Mart\u00ednez and Louise Heavens)<\/p>\n","protected":false},"excerpt":{"rendered":"By Diego Or\u00e9 MEXICO CITY, Dec 30 (Reuters) – Mexico’s sweeping new tariffs on imports from mostly Asian…\n","protected":false},"author":2,"featured_media":377991,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[161249,45,49,48,95,40558,46,1072,4992],"class_list":{"0":"post-377990","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-asian-countries","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-china","13":"tag-chinese-imports","14":"tag-economy","15":"tag-mexico","16":"tag-tariffs"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/377990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=377990"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/377990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/377991"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=377990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=377990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=377990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}