Mexico City, Dec 12: Mexico has decided to charge high taxes of up to 50% on many products imported from India and some other Asian countries from January 1, 2026. This move is meant to protect Mexican factories and jobs.
The higher taxes will apply to many items, including cars, auto parts, clothes, steel, plastics and other goods. These tariffs could hit Indian exporters hard, especially in the automobile sector, where exports worth about $1 billion may face more expensive duties.
Mexico says the new tariffs will help its local industry grow, but Indian businesses are worried that this will reduce trade and make exports more difficult.