On August 19 local time, Reuters reported that Mexico is considering imposing further trade restrictions on some products from countries such as China, while raising existing import tariffs on other products.
According to reports, the Mexican Ministry of Economy and the Ministry of Finance are evaluating which products currently not covered by bilateral trade agreements may face new tariffs, as well as which products could see increased tax rates. A source familiar with the matter revealed that steel products and vehicles are among the main categories under consideration.
Regarding this, the Mexican Ministry of Economy, which is responsible for foreign trade, stated in a statement that there are currently no specific plans or proposals for implementing new tariff adjustments. However, the ministry said it is continuing negotiations with some companies, similar to the package of tariffs imposed earlier this year on imported goods from Asia. The Ministry of Economy also mentioned that it will continue to investigate cases where imported products are sold below cost, and this could lead to the imposition of new tariffs. The Mexican Ministry of Finance declined to comment.
American media claim that as Mexican President Enrique Peña Nieto seeks to extend the validity of the US-Mexico-Canada Agreement for many years, this move indicates that Mexico will "move closer to Washington."
Bloomberg reported at the end of last month that the U.S. government is asking Mexico to follow the U.S. approach and impose 232 tariffs on steel and aluminum products from regions outside North America, in order to jointly restrict Chinese steel and aluminum products from entering the North American market. U.S. media reports that Schienbaum “is willing” to push this request during the review of the US-Mexico-Guatemala agreement.
According to reports, the governments of the United States and Mexico plan to meet again in Washington in September. They have stated that they need to prevent countries that do not belong to the agreement but still enjoy trade benefits from taking advantage of the situation. Sources familiar with the matter revealed that earlier this year, Mexico proposed a significant reduction in steel imports from China as a measure to advance negotiations.
Since 2025, Mexico has been reported to consider adopting similar measures as the United States, by imposing high tariffs on Chinese goods. The Chinese Ministry of Foreign Affairs responded that, as a principle, China always advocates for inclusive and universal economic globalization. It opposes all forms of unilateralism, protectionism, and discriminatory exclusivist measures. China firmly opposes any restrictions imposed on China under coercion, in whatever name they may be, as these actions harm China's legitimate interests. We will resolutely defend our own rights and interests based on the actual circumstances.
China stated that both China and Mexico are important members of the Global South. Mutual benefit and win-win results are the essential characteristics of Sino-Mexican economic and trade cooperation. China attaches great importance to the development of Sino-Mexican relations. In the context of some countries imposing arbitrary tariffs, China and Mexico should strengthen communication and coordination. Together, they can maintain free trade and multilateralism, and jointly promote the recovery of the world economy and the development of global trade.
