Mexico’s Senate on Wednesday approved tariff hikes of up to 50% next year on imports from India, China and other Asian countries, aiming to bolster local industry despite opposition from business groups.

The proposal, passed earlier by the lower house, will raise or impose new duties of up to 50% from 2026 on certain goods such as autos, auto parts, textiles, clothing, plastics and steel from countries without trade deals with Mexico, including China, India, South Korea, Thailand and Indonesia. The majority of products will see tariffs of up to 35%.

The Senate passed the bill with 76 votes in favour, 5 against and 35 abstentions. The approved bill is softer than one that stalled in the lower house this autumn, with tariffs on about 1,400 different product lines – mostly textiles, appa

See Full Page