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Mexico Plans Tariffs of 50% on Chinese Cars, Steel, Textiles

Mexico is looking to apply tariffs of as much as 50% on cars and auto parts, as well as steel and textiles from China and other countries with which it does not have a trade agreement, according to Economy Minister Marcelo Ebrard.

“We are going to take it higher, which the World Trade Organization allows us to do, which is up to 50%. Why? Because the prices at which they are arriving in Mexico are below what we call reference prices,” he said. “The main objective is to protect jobs.”