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Mexico Plans Tariff Hikes on Chinese Imports to Protect Domestic Industries
Mexico Plans Tariff Hikes on Chinese Imports to Protect Domestic Industries
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BTCCSquare news:
Mexico is set to impose higher tariffs on Chinese goods starting in 2026, targeting sectors like automobiles, textiles, and plastics. The MOVE aims to shield local manufacturers from cheap imports that have eroded market share. President Claudia Sheinbaum's administration will submit the draft budget proposal to Congress next month, with approval likely given her party's legislative majority.
The decision follows years of complaints from Mexican businesses struggling to compete with low-cost Chinese products. While specific tariff rates remain undetermined, the policy aligns with broader global trade tensions. Notably, the measure echoes former U.S. President Donald Trump's longstanding advocacy for trade barriers against China.
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