New Delhi, Dec. 11 -- Mexico has approved a steep tariff hike of up to 50 per cent on imports from India, delivering a blow to Indian exporters, especially auto manufacturers who depend heavily on the Mexican market.
The new duties will come into effect on January 1, 2026, covering hundreds of products from countries that do not have a free trade agreement with Mexico.
Mexico's bicameral parliament approved the sweeping tariff package of up to 50 per cent from the year 2026 on the import of select products from Asian countries, including India and China, to protect its indigenous industry and producers, media reports in the North American nation said.
The Lower House of Mexican parliament - the Chamber of Deputies - first passed the rais...