Mexico's Strategic Tariff Proposal Amid Global Trade Tensions

Mexican President Claudia Sheinbaum announces a proposal for a panel to address tariff discrepancies with China. Amid U.S.-China trade tensions, Mexico plans to increase tariffs on goods from non-FTA countries, impacting sectors such as automotive exports from China. China vows to defend its interests.

Mexican President Claudia Sheinbaum announced on Friday that her government is proposing a panel to resolve tariff discrepancies with China. This move comes amidst the ongoing trade tensions between China and the U.S.

Mexico is contemplating an increase in tariffs on goods from countries it lacks free trade agreements with, including several sectors such as automobiles—an area where China exports significantly to Mexico.

In response, China has asserted its intention to safeguard its interests, setting the stage for potential negotiations.

(With inputs from agencies.)