Mexico's Congress approves higher tariffs on goods from India, China and non-FTA nations
Washington (PTI): Mexico's Congress has approved a bill that seeks to impose higher tariffs on imports from India, China, Brazil and several other countries with which the North American nation doesn't have free trade agreements.
The bill, which is set to take effect on January 1, 2026, was passed by Mexico's Senate on Wednesday after the lower house approved it.
The development comes months after US President Donald Trump imposed a steep 50 per cent tariffs on Indian goods entering American markets, including 25 per cent for Delhi's purchases of Russian oil, in August.
The bill, submitted to Congress by President Claudia Sheinbaum in September, proposes modifications to 1,463 tariff categories (or products) covering more than a dozen sectors, including auto parts, light vehicles, plastic, toys, textiles, furniture, footwear, clothing, aluminium and glass, according to the Mexico News Daily.
The proposed tariffs range from 5 per cent to 50 per cent.
Among the other countries that will be affected by the proposed higher tariffs are India, China, South Korea, Thailand, Indonesia, Brazil, South Africa and the United Arab Emirates, the daily said.
China will be the most affected country.
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The paper said that the government believes that the proposed tariffs would generate additional revenue of USD 3.8 billion per year.
The Mexican government is aiming to reduce reliance on imports from Asian countries, especially China, it added.
The proposal to increase tariffs on China and other countries with which Mexico doesn't have free trade agreements represents “an alignment with US trade policy,” Horacio Saavedra, a Mexican diplomat, was quoted as saying by the news outlet La Silla Rota.
“The [tariff] measure responds to the shared concern of Mexico and the US about practices that have affected national industries, especially textiles, clothing and certain manufacturing sectors,” Saavedra said.
India was Mexico's 9th largest trading partner in 2023, with a trade of USD 10.58 billion. The bilateral trade in 2023 consisted of Indian imports of USD 2.54 billion and exports of USD 8.03 billion to Mexico.
In the trade basket from the Indian side, the most important items of export are automobiles and auto parts, pharmaceuticals, engineering goods and chemical products.
From the Mexican side, the most important item is crude oil. Other products of export to India are gold and related jewellery, chemical compounds and telephone machinery.
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K’taka cabinet approves cricket matches at M. Chinnaswamy stadium: Reports
Belagavi: The state cabinet under the Chairmanship of Chief Minister Siddaramaiah has reportedly given its nod to permit cricket matches at the M. Chinnaswamy Stadium in Bengaluru, subject to certain conditions.
The decision is learnt to have been taken after a meeting held at the Suvarna Vidhana Soudha here on Thursday.
Reports indicate that Home Minister Dr G. Parameshwara has been directed to formulate rules along with a referendum to hold a cricket match at the Chinnaswamy Stadium.
The cabinet’s approval comes subject to conditions, considering the report of Justice D’Cunha, which was prepared after the stampede.
The June 4 stampede during the celebrations for RCB’s maiden IPL title killed 11 people, which raised serious questions over the stadium's capability to host large-scale events.
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Stating that the “state had learned from the tragedy,” Karnataka Deputy Chief Minister DK Shivakumar on Monday, December 08, dismissed the talks about shifting Royal Challengers Bengaluru’s home games out of the city.
He also said that the Chinnaswamy Stadium is the “pride of Bengaluru and Karnataka” and vowed that IPL fixtures will continue to be played there.
On Wednesday, Shivakumar met the newly elected KSCA president Venkatesh Prasad at the Circuit House in Belagavi and reiterated that cricket matches, including IPL fixtures, will not be shifted out of Bengaluru.
“We have no intention of stopping matches at Chinnaswamy Stadium, but crowd control measures and the Michael D. Cunha committee’s recommendations will be implemented in phases,” he told reporters.
Shivakumar said the government is committed to promoting cricket and supporting fans while safeguarding the state’s reputation, adding that Prasad had sought the government’s cooperation and agreed to work jointly on the issue.
