Mexico plans to impose high tariffs on Chinese goods, to which the Chinese Ministry of Commerce responded that such actions will reduce the investment confidence of Chinese enterprises in Mexico.
On the 11th, a spokesperson for the Chinese Ministry of Commerce answered reporters’ questions on the ministry’s official website regarding Mexico’s intention to raise import tariff rates for certain trading partners. The spokesperson stated that China will closely monitor Mexico’s tariff moves and will carefully assess the final measures.
The spokesperson noted that once such measures are implemented, they will not only harm the interests of relevant trading partners, including China, but will also seriously affect the predictability of Mexico’s business environment and reduce enterprises’ confidence in investing in Mexico.
The spokesperson stated that China and Mexico are important economic and trade partners for each other, and that China does not wish to see bilateral economic and trade cooperation affected as a result. The spokesperson expressed hope that Mexico would act with caution and think twice before proceeding.
Previous reports have indicated that Mexico plans to increase import tariff rates to between 10% and 50% for roughly 1,400 tariff items such as automobiles, toys, steel, textiles, and plastic products from countries—including China—that have not signed a free trade agreement with Mexico. At the same time, some analysts believe that Mexico’s tariff measures are in line with the United States’ long-standing intention to contain China, may serve Mexico’s future trade negotiations with North American partners, and fit into the “Mexico Plan” strategy to strengthen domestic production and consumption.