Mexico’s government announced plans to sharply increase tariffs on imported vehicles from Asia, with a particular emphasis on Chinese-made cars and parts, in a move that could reshape the country’s automotive trade dynamics. Economy Minister Marcelo Ebrard said on Wednesday that tariffs on light vehicles and auto parts will be lifted to 50% from the current 20%, marking a significant escalation in trade policy. “They already have tariffs. What we will do is raise them to the maximum level allowed,” Ebrard stated. The decision underscores mounting pressure within Mexico’s domestic auto industry, which has been ... (full story)