After the US’ 50 per cent tariffs on India, it is now Mexico’s turn. The Mexican Senate approved tariff hikes of up to 50 per cent on several Asian countries, including India. Mexico’s tariff hike comes as it aims to bolster its local industry.

The proposal would raise or impose new duties of mostly up to 35 per cent on goods such as autos, auto parts, textiles, clothing, plastics and steel, despite opposition from business groups. Apart from India, countries like China, South Korea, Thailand and Indonesia would also be affected. Advertisement

The bill that would impose tariffs on around 1,400 import lines was softened from an earlier stalled version. The move comes despite opposition from China and local business groups, signalling a shift in Mexico’s trade posture as the country faces

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