Overview

• Mexico presented a Program for the Protection of Strategic Industries to Congress that adjusts 1,463 tariff lines with duties up to 50% on imports from countries without free‑trade agreements.
• China’s Ministry of Commerce launched an investigation into Mexico’s proposed changes and warned of damage to Chinese commercial and investment interests.
• Marcelo Ebrard met Chinese Ambassador Daojiang Chen, stating the policy does not stem from external pressure or geopolitics and inviting a Chinese delegation for discussions in Mexico.
• The initiative targets a wide range of sectors including autos, autoparts, textiles, footwear, steel, appliances, plastics, toys, furniture, leather goods, paper, motorcycles, glass and cosmetics.
• Mexico’s Economy Ministry estimates the impact of the proposed tariffs at about $52 billion as lawmakers consider the plan.