Mexico's Senate approves tariff hikes on Chinese, other Asian imports
- The Senate voted to enact the tariff package on Dec 10, with 76 in favor, 5 against, and 35 abstentions, set to take effect on 1 January 2026.
- Submitted in September by President Claudia Sheinbaum, the tariff bill was softened in committee and the government says it aims to spur domestic production and align with U.S. trade priorities, Mexican diplomat Horacio Saavedra said.
- On the details, the bill modifies 1,463 tariff categories across various sectors including autos, textiles, plastics, electronics, affecting around 52 billion dollars of annual imports.
- The Finance Ministry projects the tariffs will raise nearly $3.7 billion next year, but manufacturers and business groups warn consumers in Mexico face higher prices for cars, electronics and clothing.
- China's Ministry of Commerce responded on Thursday, warning the tariffs would `substantially undermine` trade, while observers say the move aligns with U.S. priorities ahead of the 2026 USMCA review and tests nearshoring given Mexico's auto sector.
103 Articles
103 Articles
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