MEXICO CITY—Mexico said on Wednesday it will raise tariffs on automobiles from China and other Asian countries to 50 percent, in a broad overhaul of import levies the government said would protect jobs and analysts said was aimed at placating the United States.
The Economy Ministry said the moves, which will increase tariffs to varying degrees on goods across multiple sectors including textiles, steel, and automotive, would impact $52 billion of imports.
“They already have tariffs,” Economy Minister Marcelo Ebrard told reporters when asked about the import levies on Chinese cars, which are currently 20 percent. “What we will do is raise them to the maximum level allowed….