
Mexico's House of Representatives, disregarding opposition from China and domestic business groups, passed a bill imposing tariffs of up to 50% on China and other Asian countries (such as India, South Korea, Thailand, and Indonesia) that do not have trade agreements with Mexico. The bill still needs approval from the Senate. The passed bill is more flexible than the original proposal. Tariffs on most goods, including automobiles, auto parts, textiles, clothing, plastics, and steel, are set at 35%. A lawmaker from the ruling party stated that the tariff hikes would not affect inflation. The bill was ultimately passed with 281 votes in favor, 24 against, and 149 abstentions. Some analysts believe the Mexican government aims to please the U.S. by reviewing the USMCA trade agreement.
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.

