Mexico's Trade Strategy: Balancing Relations and Tariffs
Mexican officials plan to discuss upcoming tariffs on Chinese goods while ensuring positive relations. President Sheinbaum emphasizes that the tariffs target specific sectors to boost local production, not any country. The tariffs, affecting hundreds of items and criticized by China as harmful to business, also draw attention from South Korea and the Mexico-China Chamber of Commerce.
Mexican officials will confer with Chinese representatives next week to discuss Mexico's planned tariffs on imports from the Asian nation. These tariffs are not intended to exert pressure, stated President Claudia Sheinbaum on Friday.
Sheinbaum emphasized that the tariff measures are not aimed at any particular country but are designed to impact imports from countries lacking trade agreements with Mexico, such as China, which are chiefly affected due to the recent hike on Chinese vehicle tariffs.
Additionally, South Korea has reached out to Mexico for similar discussions. The Mexico-China Chamber of Commerce has criticized the tariffs, fearing they might threaten market competitiveness and hinder electric vehicle adoption. Mexico remains a key automotive exporter to the U.S. while importing large volumes of vehicles.
(With inputs from agencies.)
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