Foreign media: Mexico imposes additional tariffs on India, dealing a double blow to Indian companies. The United States had previously imposed high tariffs on India, and now Mexico will impose tariffs of 5% to 50% on more than 1,400 products from countries not in a free trade agreement, including India, starting January 1, 2026.
Exports of industries such as steel, automobiles, and auto parts in India have been severely hit, with a significant drop in export volumes. Indian companies believe that Mexico's move is to avoid pressure from the U.S. during trade agreement reviews.
The Indian government has tried to alleviate the difficulties of enterprises by allowing enterprises in special economic zones to sell certain products domestically at preferential tax rates, but Indian companies still hope that the government can reach a preferential trade agreement with Mexico to reduce losses, while also seeking market diversification to reduce dependence on a few countries.
Original article: toutiao.com/article/1856385757694984/
Statement: This article represents the views of the author and does not necessarily reflect the views of the platform.