Edward Conard

Top Ten New York Times Bestselling Author

  • “Unintended Consequences provides a provocative interpretation of the causes of the global financial crisis and the policies needed to return to rapid growth. Whether you agree or not, this analysis is well worth reading.” - Nouriel Roubini, New York University; Chairman, Roubini Global Economics
  • “…a comprehensive explanation of the modern economy.” - Julian Robertson, Founder, Tiger Management
  • “…challenges misconceptions that distort our economic debates.” - Arthur Brooks, President of the American Enterprise Institute
  • “Unintended Consequences offers deep and well-argued analyses on almost every issue.” - The New York Times
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “…serious thinking for serious thinkers. …a thought-provoking blueprint for growing middle- and working-class incomes.” - Mitt Romney, former Governor of Massachusetts
  • “A full-throated defense of economic dynamism.” - The Wall Street Journal
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…a fresh argument for the productive value of inequality.” - David Autor, Professor of Economics, Massachusetts Institute of Technology
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…a must-read for serious students of economic policy.” - Glenn Hubbard, Dean, Columbia Business School, and former Chairman of the Council of Economic Advisers
  • “…reminds us that inequality sends a signal of what society lacks most, in America’s case, entrepreneurship and risk taking.” - Lawrence Lindsey, CEO, The Lindsey Group, former Director of the National Economic Council
Upside of Inequality Oxford Unintended Consequences

AI Summary. Mexico has approved tariffs of up to 50% on Chinese cars and other goods, from footwear to microwaves, more than double the previous 15%–20% rate and the highest allowed under World Trade Organization rules. Chinese imports account for a fifth of Mexican imports, and China's commerce ministry opposed the increase.

Jude Webber Financial Times
Date Posted:

Mexico is imposing tariffs of up to 50% on 1,400 Chinese goods, double the current 15–20% levies. Mexico was the world’s biggest buyer of Chinese-made cars in the first half of the year.

Is Mexico raising tariffs on Chinese goods to 50%?

Core argument: Mexico approved tariffs of up to 50% on Chinese cars and other goods, more than double the current 15–20% rate and the highest level allowed under World Trade Organization rules.

Mexico has approved tariffs of up to 50% on Chinese cars and other goods. While it will affect goods ranging from trainers to microwaves, Chinese cars will be hit the hardest. Mexico’s new 50% levy — more than double the current 15% to 20% tariff — was the highest allowed under World Trade Organization rules. Chinese imports make up a fifth of Mexican imports, official statistics show, and in November, 20% of cars sold in Mexico were imported from China, according to the Mexican Association of Automotive Distributors. Mexico was the world’s biggest buyer of Chinese-made cars in the first half of this year, according to Shanghai consultancy Automobility. China’s commerce ministry said it opposed “unilateral tariff increases” and had launched an investigation into trade and investment barriers in Mexico.

Takeaways by Macro Roundup® AI

  1. Mexico approved tariffs of up to 50% on Chinese cars and other goods, more than double the current 15–20% rate and the highest level allowed under World Trade Organization rules.
  2. Chinese imports account for a fifth of Mexican imports according to official statistics, and 20% of cars sold in Mexico in November were imported from China, according to the Mexican Association of Automotive Distributors.
  3. Mexico was the world's biggest buyer of Chinese-made cars in the first half of this year, according to Shanghai consultancy Automobility, and China's commerce ministry said it opposed "unilateral tariff increases" and had launched an investigation into Mexican trade and investment barriers.

Related Articles:

  • China’s Trade Surplus Tops $1 Trillion After Exports Rebound — China's trade surplus reached $1.1tn in 11 months, exceeding its previous full-year record, as strong export growth to the European Union and Africa more than offset a 29% drop in shipments to the US. France's president has warned the EU may impose tariffs if Beijing does not address the imbalance.
  • Sticking with What Works: Raising GDP Forecast on China’s Manufacturing Push — Stronger Chinese growth driven by export-oriented manufacturing may not produce net positive spillovers: for every 1pp export-driven boost to China's GDP, other economies may see a 0.1–0.3pp drag, with high-tech producers such as Europe and Japan facing greater pressure. Cheaper Chinese goods continue to exert a disinflationary impulse.
  • Mexico Is Not Just the Top Supplier to the U.S. Now It Is the Top Buyer — Mexico is now both the largest buyer of U.S. exports and the largest source of U.S. imports, with U.S. goods exports to Mexico at $226.4bn versus $225.6bn to Canada and imports from Mexico totaling $354.9bn. Mexico's growth, including its middle class, has increased demand for U.S. goods among its more than 130 million people.
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