China launched a trade barrier investigation into Mexico after the Latin American country announced plans to impose tariffs of as much as 50% on Chinese cars and other products.
The Chinese Ministry of Commerce expressed its strong opposition to Mexico’s proposed tariffs and said its investigation is aimed at safeguarding the interests of Chinese industry, according to a statementBloomberg Terminal Thursday. The ministry reiterated if Mexico goes ahead with the unilateral tariff hike, it will harm the interests of China and other trading partners, seriously undermine the predictability of Mexico’s business environment, and weaken investor confidence.