“Bloomberg, citing anonymous sources, reports ‘yielding to Trump’s pressure’,”
“Mexican President Claudia Sheinbaum speaks at a press conference in Mexico City on the 26th (local time). AFP/Yonhap News reports that the Mexican government is pushing to raise tariffs on imports from China. There are also observations that other Asian countries may face higher tariffs in Mexico.”
“According to a Bloomberg report on the 27th (local time), citing three anonymous sources, the Mexican government is considering implementing additional tariffs on certain imported goods manufactured in China, such as cars, textiles, and plastics, during discussions on the 2026 budget proposal, which is expected to be submitted to Congress by October 8th. The specific additional tariff rates are unclear, and plans may change.”
“Currently, Mexico imposes a maximum tariff rate of 20% on Chinese cars, which is lower than the tariffs imposed by the U.S. on Chinese products. Bloomberg interpreted this move as a result of U.S. pressure. The U.S. government perceives that Chinese products are entering the U.S. via Mexico.”
“Ning Sun, Chief Strategist for Emerging Markets at State Street Global Markets, stated, ‘Chinese exports to Latin America have increased significantly this year, offsetting the decrease in the U.S. market. Mexico, needing to appease the U.S. while protecting its own manufacturing sector, is likely to align its economic and diplomatic policies with the U.S.'”
“The U.S. Trump administration has been urging Mexican authorities since early this year to increase tariffs on imports from China ‘like the U.S.’ In February, U.S. Treasury Secretary Scott Besant highlighted the necessity of building a ‘Fortress North America,’ which signifies strengthening trade and manufacturing ties among the U.S., Mexico, and Canada, based on the U.S.-Mexico-Canada Agreement (USMCA).”