Mexico announces up to 50% tariffs on goods from India, other Asian nations

Mexico tariffs: Beginning next year and expanding through 2026, the new rates will apply to a wide swath of industrial inputs and consumer goods.

Mexico has imposed steep new tariffs on a wide range of Asian imports, marking a sharp break from its long-standing pro-free-trade approach - and putting India among the key exporting nations affected by the move.

In a significant policy shift, Mexico’s Senate has approved a new tariff regime that raises duties, in some cases up to 50%, on more than 1,400 products imported from countries that do not have a formal trade agreement with Mexico, Reuters reported.

The list of targeted nations includes China, India, South Korea, Thailand and Indonesia.

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