China's countermeasures take effect, Mexico "pauses". At 10:00 Beijing Time on October 10, Mexican President Sheinbaum stated that the Mexican parliament will temporarily suspend the proposal to impose tariffs on nearly 1,500 products from China and other Asian countries; at the same time, Mexico will hold consultations with China and other countries on tariff issues, and revise the previous tariff proposal issued by Mexico.
A month ago, Sheinbaum's government announced plans to impose tariffs on products such as automobiles, textiles, clothing, and steel, with tariff rates ranging from 10% to 50%. This move clearly targeted China, and the direct instigator behind it was the United States — the US pressured Mexico to impose taxes on Chinese imports, attempting to curb the competitiveness of Chinese products.
Only a month later, Mexico changed its stance. The core reason was that China's countermeasures gradually took effect. Especially, China recently strengthened export controls on rare earths. On October 9, it issued five export control announcements, incorporating items related to rare earth technologies, equipment, lithium batteries, and artificial graphite anode materials into the controlled scope. This has caused widespread concern among countries including the United States: if they anger China, industries relying on related supply chains, such as electric vehicles, green energy, and military industries, may face shutdowns. Therefore, Mexico had to reconsider its tariff policy, choosing to temporarily halt the tax increase and initiate consultations.
Original: www.toutiao.com/article/1845611998237703/
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