Mexico approves up to 50% tariffs on India: Who gets hit the most?

Mexico approved imposing tariffs on hundreds of goods from countries without trade agreements, including India and China, starting next year.

Mexico on Wednesday gave a go-ahead to imposing tariffs from next year on hundreds of goods from countries it said it does not have trade agreements with - including India and China. Mexico President Claudia Sheinbaum's government said the move is to protect local employment and manufacturing.

The tariff approval by Mexico, which Reuters reported first on Wednesday, on Asian imports is expected to hit the Indian automakers the most as Mexico, is India's third-largest car export market after South Africa and Saudi Arabia.

Mexico’s Senate has approved a new tariff regime that raises duties, in some cases up to 50 per cent, on more than 1,400 produ