The new tariffs, seen as a response to US concern about Chinese steel and other goods entering the North American country, will also be imposed on aluminum, textiles, and plastics. Once in force, the tariffs could reduce Mexican imports by $6 billion to $7 billion, said Rodrigo Mariscal, head of the Economic Planning unit at the Finance Ministry, underscoring the ministry’s assessment that the effect would be minimal.

“We don’t believe that it is fundamentally important,” Mariscal said.

Last week, President Andres Manuel Lopez Obrador’s administration published a decree placing temporary tariffs of 5% to 50% on over 500 kinds of goods, also including aluminum, wood, chemicals, paper and cardboard, glass, electrical equipment, among others.

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