The Chinese Ministry of Commerce criticized the decision of the Government of Claudia Sheinbaum to increase up to 50% tariffs on cars from that nation and other Asian countries, stating that the measure would undermine investors’ confidence and “seriously affect the business environment of Mexico.”
The statement occurs after the Mexican government announced on Wednesday that it would raise tariffs on cars at its maximum allowed level.
The administration of Claudia Sheinbaum said that the rise was part of a broader review of import taxes, whose objective is to protect employment. According to analysts, the measure also intends to appease the United States.
The Ministry of Economy said the measures, which will increase tariffs in varying degrees on goods in multiple sectors such as textile, steel and automotive, will affect 52,000 million dollars in imports.
Lee: China warns that ‘will protect their interests’ against Plan de México to upload tariffs to Chinese products
“China and Mexico are important economic and commercial partners of each other, and we do not want economic and commercial cooperation between both parties to be affected by it,” said the Chinese Ministry of Commerce.
Beijing will take the “necessary measures” to safeguard their “legitimate rights and interests,” the ministry said without giving details what they were.
The measure occurs in the midst of the growing United States pressure on Latin American countries to slow their economic ties with China, at a time when Washington struggles to influence the region.
With Reuters information
Inspy, discover and share. Follow us and find what you are looking for on our Instagram!
