Now, Mexico slaps up to 50% tariffs on India

In a blow to Indian exporters, especially automakers, Mexico has approved tariffs of up to 50 per cent starting next year on imports of hundreds of items from India, China and a few other countries with which it does not have free trade agreements.

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The move, which Mexico claims is aimed at protecting local jobs and manufacturing, comes at a time when Indian industries are already reeling under a steep 50 per cent tariffs imposed by the US. India exported goods worth $5.3 billion to Mexico in the last financial year, with cars accounting for nearly $1 billion. Analysts believe the sudden protectionist turn of Mexico is closely related to pressure from the US ahead of next year’s US-Mexico-Canada Agreement review. The North American country’s government is understood to be signalling alignment with Washington’s tougher stance on Chinese goods, hoping this might help ease the sweeping US tariffs that have hit Mexico's own exports.

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