50% tariff shock: India in touch with Mexico over ‘unilateral’ move; aim for 'stable and balanced trade environment'

As India reels amid steep tariff hike by Mexico, ranging up to 50 per cent, an official said New Delhi is actively engaging with Mexican authorities over what it views as a “unilateral” move to raise duties on a wide range of products. The discussions, the official said, are aimed at finding solutions beneficial to both countries, while keeping open the option of protecting Indian exporters’ interests. The comments were made to PTI. The tariff increases apply to countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia. According to the official, India had raised concerns even when the initial bill was introduced. India’s Embassy in Mexico approached the Mexican Ministry of Economy on September 30, seeking specia