Mexico to Hike China Tariffs, Raising Hopes on US Steel Levy (1)

Mexico’s Congress is set to vote this week on President Claudia Sheinbaum’s proposed tariffs on China, part of a broader plan to shield local producers and ease trade tensions with the US. The move is fueling expectations that it could soon make room for US tariff relief on Mexican steel and aluminum.

The bill, which imposes tariffs of up to 50% on imports from Asia and China in particular, was approved late Monday by the lower house’s economy committee, which also set Jan. 1 as the date the new levies would take effect. The proposal now goes to a ...