China Says It Has Right to Retaliate Against Mexico’s Tariff Hikes

File image of the Chinese Ministry of Commerce headquarters in Beijing. Image via Xinhua.

China said on Wednesday that Mexico’s trade measures against it, including tariff increases, constitute trade and investment barriers and that it had the right to take countermeasures.

The import duty hikes affect more than $30 billion in Chinese exports to Mexico and could lead to estimated losses of about $9.4 billion to China’s mechanical and electrical sectors, the Chinese Ministry of Commerce said in its conclusion of an investigation into the measures.

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by Reuters

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