Mexico's Tariff Strategy Signals Economic Shift

Mexico's Congress has passed a bill to increase tariffs on imports from countries like India and China, aiming to generate half a billion USD in revenue annually. This move aligns with U.S. policies and seeks to reduce reliance on Asian imports. The tariff changes affect multiple sectors.

In a significant move, Mexico's Congress has approved a bill imposing higher tariffs on imports from several countries, notably India, China, and Brazil, which currently lack free trade agreements with the nation.

Slated to take effect on January 1, 2026, the bill, backed by President Claudia Sheinbaum, targets 1,463 tariff categories in sectors like auto parts, textiles, and electronics. The aim is to cut dependence on Asian imports, particularly from China.

The decision follows similar U.S. policies and is projected to raise an additional USD 3.8 billion annually. Mexican diplomat Horacio Saavedra notes the measure reflects shared U.S. and Mexican concerns over practices impacting national industries.

(With inputs from agencies.)