Mexico has proposed matching US tariffs on China, Bessent says

 U. S. Treasury Secretary Scott Bessent announced that Mexico has proposed to implement tariffs on China that would match those of the U. S. This move is part of ongoing trade discussions as the U. S. prepares to enforce new tariffs on imports from Mexico and Canada.

• Mexico's proposed tariffs on China are seen as a strategic response to the impending U. S. tariffs scheduled for March 4.

• Bessent described Mexico’s proposal as “very interesting” and suggested Canada should consider a similar action.

• The focus of Mexico's proposed tariffs will likely be on cars and auto parts.

• This action aims to protect North American economies from what Bessent referred to as "the flood of Chinese imports" amid concerns over China’s trading practices.

• Mexican President Claudia Sheinbaum’s administration is reportedly aligning its policies with U. S. and Canadian approaches to address trade issues with China.

• In addition to tariffs, Mexico may introduce further trade measures against low-cost goods and counterfeit products from China.

Mexico's initiative to match U. S. tariffs on China marks a significant step in the trilateral trade relationship as nations seek to combat perceived unfair trade practices. Further developments are awaited as trade talks continue and the deadline for new tariffs approaches.

https://theprint.in/world/mexico-has-proposed-matching-us-tariffs-on-china-bessent-says/2518325/