Mexico Senate Approves Tariffs Up to 50% on Asian Imports

Mexico's Senate has approved a package of tariffs reaching up to 50 percent on imports from several Asian countries without free trade agreements, including China, India, South Korea, Thailand, Indonesia and the Philippines, in a move set to take effect on January 1, 2026. The legislation, passed late Wednesday with 76 votes in favor, five against and 35 abstentions, targets a wide array of goods such as automobiles, auto parts, steel, textiles, electronics and home appliances, aiming to protect domestic industries and generate additional revenue amid upcoming trade negotiations with the United States.

The tariffs represent an extension and adjustment of measures first imposed in April 2024, which applied duties of 5 to 50 percent on similar imports for two years. Officials from Mexico's Economy Ministry, which proposed the original plan in September, stated that the updated rates, mostly ranging from 25 to 35 percent, have been moderated following diplomatic consultations. For instance, duties on auto parts will rise to 25 percent, while washing machines, refrigerators and microwaves face 25 to 30 percent levies. The government anticipates the measures will bring in between...