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Souring Opposition in Mexico Delays Plan to Hike Tariffs on CN Imports
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Mexican President Claudia Sheinbaum's plan to levy high tariffs on Chinese imports has been delayed at least until December due to opposition from Mexican businesses and ruling party lawmakers, leading to a stalemate in congressional debates, Bloomberg reported, citing Mexican lawmakers and business leaders. Under Sheinbaum's tariff plan, the government seeks to impose tariffs ranging from 10% to 50% on over 1,400 imported products from China and other Asian countries. The government is reportedly discussing which categories should be prioritized to minimize the impact on local industries. In September, a spokesperson for China's Ministry of Commerce had remarked that Mexico's unilateral tariff increase, even within the WTO framework, would undermine the interests of relevant trading partners, including China, and severely affect the certainty of Mexico's business environment, reducing companies' confidence in investing in Mexico, and thus China firmly opposes this. AASTOCKS Financial News Website: www.aastocks.com |
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