New tariffs imposed by Mexico could affect R$ 1.7 billion in Brazilian exports, says CNI

In an initial estimate, the National Confederation of Industry (CNI) calculated that the new tariff measures from Mexico could impact US$ 1.7 billion (14.7%) of what was exported by Brazil to Mexico in 2024. The CNI is awaiting confirmation of possible changes in the scope of the measure to estimate a more accurate impact on Brazilian exports. The Mexican Congress approved on Wednesday, 10, an increase of at least 35% in import tariffs on 1,400 products from 12 countries with which it does not have trade agreements, including Brazil and China - the latter being the main country affected. The new tariffs are expected to come into effect from January 1, 2026. The measure was approved by the Chamber of Deputies and the Senate on the same day. The party of President Claudia Sheinbaum, who stated that the tariffs were necessary to boost national production, controls both Houses. The Brazilian industry entity advocates that the government advance in the negotiation of a more ...