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LatinNews Regional Monitor: Mexico - 6 June 2018
In brief: Mexico
* Mexico’s economy ministry (SE) has released a detailed list of US products that will be subjected to import tariffs of 15%-25% in retaliation to the import tariffs on steel and aluminium recently imposed by the US government. The list released by the SE includes over 50 products ranging from bourbon whiskey, cheese, apple, and pork meat, to steel plates and laminated tubes. An SE statement says that some of the tariffs will be applied immediately while others will come into effect from 5 July and will remain in place until the US import tariffs are removed. The statement adds that, although trade between Mexico and the US is mostly duty-free under the North American Free Trade Agreement (Nafta), in view of the US’s unilateral decision to impose import tariffs on steel and aluminium “Mexico has the right under Chapter VIII of the North American Free Trade Agreement to impose measures that have an equivalent economic impact to those adopted by the US”. The statement adds that Mexico also has the right to “adjust” the composition of the list of US products that can be subjected to import tariffs.
