New Delhi, 11 December. A few months ago, America created a stir in the world by imposing tariffs on many countries. Now another South American country Mexico has also taken a big step and launched a tariff attack. In this sequence, Mexico has decided to impose 50 percent high tariff on goods coming from many Asian countries including China and India, which will be up to 50% like America.

The new tariffs are scheduled to come into effect from 2026

According to media reports, Mexico’s Senate has approved this proposal. Mexico’s Senate voted 76 in favor of the bill to increase tariffs while 5 votes were against it. Apart from this, it was passed with 35 absent votes. These new tariffs are going to be implemented from next year i.e. 2026. This is going to be a big blow especially to those countries which do not have any trade agreement with Mexico.

These Asian countries including China and India will be more affected

China, India, South Korea, Thailand and Indonesia are at the top among the countries most affected by this decision. From next year, Mexico will charge up to 50% tariff on auto parts, textiles, steel and other goods coming from all these countries. Apart from this, tariff on many goods has been increased to 35 percent. This is being done up to 35%.

That’s why Mexico took this step

In fact, like America, Mexico has also taken this step of increasing tariffs with the aim of promoting its local industries. However, only time will tell what its impact will be. However, trade groups have also strongly opposed this tariff hike.

According to media reports, regarding this step of Mexico Tariff Hike, analysts and private sector have argued that this decision has actually been taken to please the United States and generate additional revenue of $ 3.76 billion next year as Mexico is trying to overcome its fiscal deficit.

A look at trade between India and Mexico

According to the report, there has been an increase in trade between India and Mexico in the last few years. In the year 2022, the merchandise trade between the two countries had reached $11.4 billion, however, in 2023, it declined slightly and came to $10.6 billion, while in 2024, it increased again and reached an all-time high of $11.7 billion. India’s trade surplus with Mexico is also quite high, India’s exports to Mexico in 2024 were about $8.9 billion while imports were $2.8 billion.