Mexico Tariffs on Steel, Plastics to Affect 7% of Total Imports
- Move seen as response to US concern about some Chinese imports
- Government placed tariff on more than 500 kinds of goods
Shipping containers at the Port of Mazatlan in Sinaloa state, Mexico.
Photographer: Jeoffrey Guillemard/BloombergThis article is for subscribers only.
Mexico’s decision to slap tariffs on some goods from countries with which it doesn’t have trade agreements will only affect about $48 billion of the country’s imports, around 7% of the total, according to a Finance Ministry official.
The new tariffs, seen as a response to US concern about Chinese steel and other goods entering the North American country, will also be imposed on aluminum, textiles, and plastics. Once in force, the tariffs could reduce Mexican imports by $6 billion to $7 billion, said Rodrigo Mariscal, head of the Economic Planning unit at the Finance Ministry, underscoring the ministry’s assessment that the effect would be minimal.