Mexico is preparing to increase its levies from 20% to 50% on cars from China and a number of other Asian countries.
President Claudia Sheinbaum has sent the proposal to Congress.
The bill has to be approved by the House and Senate. It will come into force 30 days after being passed. It will cover approximately $52 billion worth of imports from countries without free trade agreements with Mexico.
Minister of the Economy, Marcelo Ebrard, said the measures were aimed at safeguarding Mexico’s automotive industry, which represents nearly a quarter of the country’s manufacturing output.
He pointed out that the Mexican automotive industry accounts for 23% of its manufacturing output. So it has to be protected. He stated that one way of doing this was to increase tariffs, that would safeguard some 325,000 industrial and manufacturing jobs currently at risk.
Translation by Giles Foster
