Mexico suddenly announced that it would impose temporary tariffs of up to 50% on 544 imported goods, which will take effect immediately and last for two years.

The latest reports from CCTV News and Xinhua News Agency stated that: On April 22, local time, Mexican President Lopez signed a decree to levy 5% to 50% on 544 commodities including steel, aluminum, textiles, clothing, footwear, wood, plastics and their products. % temporary import tariff.

The decree takes effect on April 23 and will be valid for two years.

According to the decree, textiles, clothing, footwear and other products will be subject to a temporary import tariff of 35%; round steel with a diameter less than 14 mm will be subject to a temporary import tariff of 50%.

Goods imported from regions and countries that have signed trade agreements with Mexico will enjoy preferential tariff treatment if they meet the relevant provisions of the agreement.

Gabriela Siler, director of economic analysis at BASE Financial Group in Mexico, believes that tariff measures may lead to increased inflationary pressure in Mexico, and "protectionism does not work anywhere."

Screenshot of the original Mexican official text

Screenshot of tariff rates for some goods

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