Mexico intends to impose customs duties of up to 50% to protect its local industry
Mexico City on September 11/ WAM/ The Mexican government has presented a plan to impose new customs duties to protect its national industry, in light of the impact of American trade policy on the country’s economy.
According to the plan, it will impose customs duties of up to 50% on imported goods, especially from Asia, while the procedures will not include the United States and the European Union.
Mexico President Claudia Shinbom presented a proposal to Parliament to amend the tax and export law, so that the fees are applied to about 1500 commodities, including cars, spare parts, steel and aluminum, coming from countries that are not linked to Mexico free trade agreements such as China, India and Russia.
The government explained that this step aims to enhance the local industry and protect jobs in facing the current challenges of international trade.
The new definitions are expected to affect 8.6% of the total imports of Mexico, at a value of up to 52 billion dollars.
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