Mexico's Tariff Plan: A Strategic Move for Domestic Industry Boost
Mexican President Claudia Sheinbaum plans to consider tariffs on imports from countries without trade agreements, including China. Dubbed 'Plan Mexico', this initiative seeks to bolster domestic industry in response to U.S. tariffs on some Mexican goods. Details on affected products or sectors remain unspecified.
Mexican President Claudia Sheinbaum announced potential tariffs on imports from nations lacking trade agreements with Mexico, notably China. This strategic consideration is part of 'Plan Mexico', aimed at fortifying domestic industries amidst U.S. imposed tariffs on Mexican goods.
President Sheinbaum revealed at her daily press briefing that the focus will be on countries not holding trade agreements with Mexico, the region's second-largest economy. This could signal a significant shift in trade strategies as Mexico navigates external economic pressures.
Though specifics on which products or sectors could be impacted were not disclosed, Mexico's involvement in the United States-Mexico-Canada Agreement (USMCA) adds another layer of complexity to the proposed measures. The agreement, replacing NAFTA in 2020, mandates a joint review by the three signatories after six years.
(With inputs from agencies.)
ALSO READ
GLOBAL MARKETS-Shares shake off China selloff as bond markets brighten
China Concord Resources Elevates Oil Production in Venezuela
China's Foreign Ministry says visiting North Korean leader Kim Jong Un will meet with Chinese leader Xi Jinping, reports AP.
China Stands with Cuba Against Interference
China Strikes Back with Hefty Tariffs on U.S. Optical Fibre Imports
Google News