Infocase News Agency, Mexico’s Senate has approved a bill to impose tariffs of 5-50% on imports from Asian countries that do not have trade agreements with Mexico, targeting mainly Chinese goods to protect domestic industries.
The bill received 76 votes in favor, 5 against and 35 abstentions. The new tariffs will take effect next year and will control more than 1,400 products, ranging from clothing and accessories to metals and vehicle parts.
Under the law, cars imported from China will face tariffs of up to 50%. Chinese vehicles currently account for 20% of the Mexican market, a significant increase from the small volume of car imports over the past six years.