Bloomberg: Mexico plans to raise tariffs on imports from China at Trump's request

The Mexican government plans to increase tariffs on imports from China as part of the draft budget for 2026. About writes Bloomberg, citing informed sources.

The move is aimed at protecting local producers from cheap Chinese imports and meeting the US president's longstanding demands Donald Trump.

According to the agency's sources, tariffs will increase on goods such as cars, textiles, and plastics. Other Asian countries may also be subject to increased duties.

Specific rates have not yet been determined, and the draft budget is scheduled to be submitted to the Mexican Congress by September 8.

At the beginning of the year, the Trump administration urged Mexican officials to raise tariffs on Chinese imports, as the United States did.

Then Mexico proposed the Fortress North America concept, which limits supplies from China and strengthens production ties between the United States, Mexico, and Canada.

Trump is also concerned that Chinese goods going to Mexico end up in the United States. Mexico has become one of the main markets for Chinese cars in recent years.

Analysts note that if the tariffs are not high enough to ensure the competitiveness of Mexican companies, their effect will be limited.

At the same time, the tariff increase will also help Mexico increase budget revenues and reduce the deficit, which in 2024 reached a record level since the 1980s.

• The United States and China could not conclude a deal over Beijing's refusal to buy oil from Russia. China's Foreign Ministry said that the country "will always ensure its energy security in a manner consistent with national interests" and warned that "pressure and coercion will not work."
• On August 5, US President Donald Trump said that he "very close to a deal" with China to extend the trade truce.
• August 12, the United States and China agreed to extend the trade truce for another 90 days to avoid a sharp increase in mutual duties.