India Moves to Secure Trade Deal with Mexico
Mexico recently approved higher import duties on products from several countries, including India, according to the report. “Mexico’s primary target is not to hit Indian exports,” India’s Commerce Secretary Rajesh Agrawal stated on Monday, as cited in the report.
Since September, New Delhi has been in talks with Mexico to “pursue a trade agreement to mitigate the impact promptly,” Agrawal explained.
Mexican authorities argue that the tariff hike is intended to strengthen domestic industry, safeguard jobs, and correct trade imbalances. Analysts, however, suggest the measure is designed to appease the United States ahead of a regional trade pact review scheduled for next year, according to the outlet.
Agrawal confirmed that technical negotiations are progressing following an online meeting with Mexican Vice Minister Luis Rosendo.
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