00:00Mexico is moving to impose tariffs of up to 50% on cars and other products from China and several Asian exporters.
00:08The move comes as President Claudia Sheinbaum gets ready for talks on North America's free trade deal,
00:14signalling closer alignment with U.S. protectionist policies and an effort to appease Washington.
00:21Mexico's economy minister said that tariffs will hit goods across multiple sectors,
00:26including textiles, steel and vehicles, affecting around US$52 billion in imports.
00:33When asked about Chinese cars, which currently face a 20% levy, he said they would be raised to the maximum level allowed.
00:40He argued that Mexico needs stronger protections to remain competitive and to safeguard domestic employment,
00:46noting that Chinese vehicles are often sold below reference prices.
00:50The tariff package also targets imports from countries without trade agreements with Mexico,
00:55including South Korea, India, Indonesia, Russia, Thailand and Turkey.
01:01The move comes amid U.S. pressure on Latin American countries to limit economic ties with China.
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