China urges Mexico to ‘think twice’ on tariffs, warns countermeasures

Beijing-China Ministry of Commerce warned measures against Mexico because it plans to increase tariffs on Asian-made cars to 50%.

“We hope that Mexico will be extremely cautious and Think twice before you act“The ministry was translated by CNBC in a statement late on Thursday.

“China and Mexico are mutually important trade partners.” He said. “We are not willing to see the economic cooperation affected by both sides.”

Mexican Economic Secretary Marcelo Ebrarard told journalists on Wednesday, said the country plans to increase tariffs for vehicles from Asia, especially China. To 50 % Existing from 20%. Increased tasks still need congress approval and tariffs It comes into force after 30 dayshe said.

“China will take the necessary measures to protect their legitimate rights and interests decisively.”

In the ongoing trade tensions with the United States, China’s counter measures included restrictions on mineral exports, critical for the production of cars and other advanced technologies. Chinese companies dominated the supply chain for most of these minerals.

Mexico, which lives on the southern border of the USA, benefits from the US-Mexico-Canada Agreement (USMCA) for uniform trade between countries. However, USMCA, which came into force in 2020, Requires a much larger part of a vehicle in the region North American Free Trade Agreement Agreement.

Mexico’s automobile industry, in a statement to CNBC, Dentons Global Advisors’ DC -based partner Washington, the country’s biggest employer Jorge Gouajardo. He is the former ambassador of Mexico.

From June 2022 to July 2024, More than 20 Chinese Car Pieces And according to the Currection Group, a group of advocacy, producers announced an investment in more than $ 7 billion in Mexico.

It is not clear how many projects are completed. Chinese electric car giant Byd He did not build a long -awaited factory in Mexico.

Earlier this year, according to the figures of the Chinese passenger automobile association, the Central American country was China’s best target for car exports.

“What is very important for Chinese cars is the market share, often not from Western brands. Not really from other Asian brands. This is what we see in Mexico, Macquarie Capital, in front of Mexico’s latest statement at the beginning of China’s connection.

However, even with the clues of a 25% increase in the tasks at that time, Hsiao said that “the proposal for many of these Chinese cars remained intact even in some of these tariffs,” he said.