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, reports Bloomberg. 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 statement 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.
“China believes that, against the backdrop of the US’s abuse of tariffs, all countries should jointly oppose unilateralism and protectionism in any form. No party should sacrifice the interests of third countries under coercion from others,” said a ministry spokesman.
The probe covers tariffs against autos, textiles, steel, home appliances and other goods, as well as other unspecified measures restricting Chinese trade and investment imposed in recent years, according to the ministry. The investigation will be completed within six months and the ministry has vowed to take necessary measures to safeguard China’s interests based on the findings.