Mexico to Slap 50% Tariffs on Chinese Imports, Citing Job Protection

Mexico's Economy Secretary, Marcelo Ebrard, defended new tariffs on imports from China and other Asian nations on Monday. He stated the move is designed to protect local industry, not to provoke trade partners. The tariffs target countries that do not have free trade agreements with Mexico. Approved by Congress last week, the measures will start on January 1. Duties of 5% to 50% will apply to 1,463 imported products. Officials estimate the policy will safeguard approximately 350,000 domestic jobs. Ebrard emphasized the decision was an economic necessity. He said it aims to prevent market distortions and protect Mexican manufacturers from a flood of cheaper foreign goods.