Mexico City, Dec. 11 -- Mexican City has approved tariff hikes of up to 50 per cent from the year 2026 on import of select products from Asian countries including from India and China in order to protect the national industry and producers, local media reported.

As per a report in the established Mexican news outlet El Universal, Mexico's Senate, the country's upper house of Parliament on Wednesday (local time) modified various tariff classifications of the General Import and Export Tax Law to impose duties ranging from 5 to 50 per cent on goods ranging from everyday consumer goods such as clothing, footwear, appliances, and furniture.

Specifically, the decree establishes tariffs on the import of various goods in the auto parts, light c...