Mexico Imposes Tariffs on Countries Without Trade Agreements
The Mexican government has announced a significant trade measure by imposing temporary tariffs on 544 tariff lines for countries without trade agreements with Mexico. These tariffs, ranging from 5% to 50%, will affect a wide range of products, including steel, aluminum, chemicals, oils, soap, paper, cardboard, ceramics, glass, electrical materials, musical instruments, and furniture, among others.
The main objective of this decision is to provide certainty and fair market conditions for national sectors facing vulnerabilities. This measure aims to support the recovery and development of the national industry and strengthen the domestic market. The Ministry of Economy and the Ministry of Finance have emphasized that the economic slowdown resulting from geopolitical and trade conflicts has negatively impacted the competitiveness of national production chains.
This action has been taken in the context of negotiations and trade disputes that Mexico has faced with its main trading partners, especially in strategic sectors such as steel. In this regard, President Andrés Manuel López Obrador has sought to implement measures to combat unfair practices and ensure transparency and traceability in the steel industry.
The measure will take effect from this Tuesday and will last for two years from its publication in the Official Gazette of the Federation. With this measure, Mexico aims to protect and strengthen its national industry in a complex and highly competitive global context.
To read the full article: https://t21.com.mx/mexico-establece-aranceles-a-paises-sin-tratado-comercial/