Mexico will protect its sensitive industrial sectors, including textiles, clothing and footwear from low priced Chinese goods, Lorenza Martinez Trigueros, undersecretary of Industry and Trade, Ministry of Economy, has said.
The official stated that the Federal Government will take appropriate measures such as levying custom duties and direct taxes on goods to restrict the excessive entry of Chinese items post December 11, 2011.
The guidelines for the assignment of import quotas in respect of the temporary trade remedy measures in the Mexico-China Trade Remedy Agreement that came into effect from January 1, 2009 will expire on December 11, 2011.
This has made it essential for the Government and industries to work together to create legal mechanisms to save sensitive industrial sectors in Mexico, the official said.
China is Mexico's second-biggest trade partner, but there is a huge asymmetry in their trade relations. In 2010, while Mexico imported US$ 45.6 billion worth of goods from China, its exports to China were mere US$ 4.2 billion.
Fibre2fashion News Desk - India
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