Mexico is rolling out import tariffs of up to 35% on goods from countries without free trade agreements, targeting a broad range of goods from China and other Asian countries.
00:00Welcome back. Mexico has rolled out sweeping import tariffs of up to 35% on countries without free trade agreements, targeting a broad range of goods from Asia.
00:12Officials say the move is aimed at protecting jobs and boosting domestic manufacturing. The new tariff takes effect January 1st.
00:21The new duties apply across a wide range of products, from automotive parts and textiles to home appliances and furniture.
00:28It will affect countries like China, India, Indonesia, South Korea and Thailand.
00:34Mexican officials say the tariffs are designed to protect around 350,000 domestic jobs and key industries.
00:40They insist the tariffs are not aimed at any one country, but are designed to strengthen key industries and reduce reliance on imports.
00:48China has strongly condemned the move, calling it misguided protectionism and urging Mexico to reconsider.
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