India, Dec. 11 -- Four months after the United States imposed steep 50 percent tariffs on most Indian goods, Mexico has now followed suit, approving duties of up to 50 percent on a wide range of imports from Asian countries, including India and China.

The new tariffs, aimed at protecting domestic manufacturers, will come into effect on January 1, 2026.

The move will affect countries that do not have a trade agreement with Mexico, including India, China, South Korea, Thailand and Indonesia.

Why is Mexico raising tariffs?

Mexico, which has a massive trade imbalance with China, is attempting to reduce its dependence on Asian imports and boost local industrial output. China alone exported goods worth $130 billion to Mexico in 2024.

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