Mexico imposes heavy tariff on Chinese cars
Al Jazeera · Just In
Al Jazeera
Just In
Mexico's President Claudia Sheinbaum has announced a budget proposal that will impose tariffs on more than 1,400 products, mostly from Asian nations. But the biggest tariff will be levied against motor vehicles from China, in what analysts say is a clear move to favour the U.S.
Breakdown
- Mexico proposes a 50% tariff on Chinese-made cars, more than doubling the current rate. 7s
- China's foreign ministry opposes the tariff, citing concerns over protectionism. 23s
- The US is concerned Mexico could be a backdoor for Chinese goods into North America. 51s
- Mexico's move is seen as aligning with US interests ahead of USMCA renegotiations. 1m 5s
- The tariff proposal is likely to pass, as the governing party holds a congressional majority. 2m 40s