Mexico raises tariffs on imports from non-trade agreement countries

Mexico City [Mexico], August 17: The Mexican government temporarily increased import tariffs on countries without a trade agreement with Mexico.
Published Tuesday in the Official Journal of the Federation, the tariffs include inputs and goods from strategic industries such as steel, textiles, clothing, footwear, aluminum, tires, plastics, glass and ceramics, among others, the ministry said in a statement.
"This measure is expected to benefit more than 206,000 micro, small and medium-sized companies, which generate more than one million jobs," the Ministry of Economy announced Wednesday.
The temporary increase is intended to promote the development of domestic industry, support the domestic market and strengthen the integration of domestic producers in value chains, the government added.
According to the ministry, production and supply chains have been affected by the economic slowdown and unfair trade with some countries following the COVID-19 pandemic.
Source: Xinhua