GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS
Mexico Plans to Raise Tariffs on Chinese Imports
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2025-10-08
The Mexican government plans to raise tariffs on Chinese imports in its 2026 budget to protect domestic industries from cheap imports and meet U.S. demands. These higher tariffs are expected on goods like cars, steel products, textiles, and plastics to reduce dependency on China and other Asian countries. Mexico’s trade deficit with China has grown, and increased tariffs could boost revenue and ease the budget deficit while improving relations in the USMCA trade agreement with the U.S. and Canada. Chinese cars have gained popularity in Mexico, making it the top global market for these vehicles, but higher tariffs may increase prices and reduce affordability. Industry experts suggest quotas for low-tariff Chinese cars to balance consumer access and international pressure. Mexico currently imposes tariffs ranging from 5% to 50% on many Chinese goods, and the planned tariffs aim to further shield its domestic industries.
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GOVERNMENTS/ASSOCIATIONS/FASTENER GROUPS
2025-10-08
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