Mexican President Claudia Sheinbaum is considering imposing tariffs on small imports from China to boost revenues and protect domestic manufacturing jobs, local media reported Tuesday.
Officials are looking for new sources of revenue to tackle the country’s budget deficit and financial obligations inherited from her predecessor, Andres Lopez Obrador, El Universal newspaper said.
The proposed tariffs would target products purchased through Chinese e-commerce platforms including Temu, Shein, AliExpress and Alibaba, according to the report.
AliExpress and Alibaba are subsidiaries of Alibaba Group Holding Limited, owner of the South China Morning Post.
Officials told El Universal that the websites had circumvented import duties and often evaded local taxes while failing to meet technical standards required for domestic manufacturers.
Government data show that Mexico will face its largest budget deficit in more than three decades this year, at 5.9 percent of gross domestic product.
Mexican President Claudia Sheinbaum is looking for new sources of revenue to reduce a budget deficit that is reportedly the largest in decades. Photo: Mexican Presidency/AFP