China pushed against Mexico’s import tariffs
Beijing (dpa) — The Chinese government on Thursday criticized Mexico’s decision to impose import tariffs of up to 50% on around 1,500 goods from China and other countries.
Beijing will closely monitor Mexico’s next steps, the Chinese Ministry of Commerce said.
The new tariffs are set to come into force in January after parliament approved them at the suggestion of President Claudia Sheinbaum.
Her government plans to use the import duties to protect the Latin American country’s industry, partly because of the impact of US trade policy on Mexico.
US President Donald Trump has accused the neighbouring country of being a gateway for Chinese products into the United States.
Trade between the US, Mexico and Canada is largely duty-free under the United States-Mexico-Canada Agreement, which came into effect in 2020.
The new tariffs affect 8.6% of Mexico’s total imports, worth $52 billion. Levies are planned on goods such as cars, car parts, steel and aluminium from countries with which Mexico has no free trade agreements. The US and the European Union are not affected.
China has always opposed unilateral tariffs and hopes that Mexico will correct its “wrong practice” of unilateralism and protectionism, the ministry in Beijing said.
It also cited an ongoing investigation that it launched into Mexico’s trade and investment barriers in September.
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Notes from APS Radio News
With regard to China’s consumer price index, in November prices rose by about 0.7%.
At the same time, its Purchasing Manager’s Index showed that it was about 49.2%.
According to Investopedia, an index number less than 50 is deemed to indicate an economy contracting.
