Mexico may impose tariffs over proposed U.S. electric car tax credit




  • In Business
  • 2021-12-02 18:43:57Z
  • By Reuters
 

MEXICO CITY (Reuters) - Mexico is analyzing a range of responses to a proposed U.S. electric vehicle tax credit and would even consider applying tariffs, Mexican Economy Minister Tatiana Clouthier said on Thursday.

"In the past we have imposed tariffs and we would have to do or propose something very important and strategic for those products, in those places where it hurts them...so that the consequences can be felt," Clouthier told a news conference.

Clouthier said this was "not a desirable" course of action, but underscored that Mexico would do everything in its power to safeguard its automotive industry, which employs around 1 million people directly.

The U.S. Congress is considering a new $12,500 tax credit that would include $4,500 for union-made U.S. electric vehicles. Only U.S. built vehicles would be eligible for the $12,500 credit after 2027, under a House proposal.

(Reporting by Anthony Esposito; Editing by Drazen Jorgic, Cynthia Osterman and Angus MacSwan)

COMMENTS

More Related News

Mexico
Mexico's energy reform strains ties with US
  • US
  • 2022-01-22 22:24:17Z

Mexico's plan to favor its own state-owned electrical power plants and limit energy sales by private, foreign-built projects could affect U.S. investment in ...

Is This the Year to Lower Your Taxes While Helping the Environment?
Is This the Year to Lower Your Taxes While Helping the Environment?

Going solar, whether for your home or for a commercial project, can bring along with it powerful tax credits for the next several years.

UAW union urges GM to ensure fair workers
UAW union urges GM to ensure fair workers' vote in Mexico

The United Auto Workers (UAW) union on Friday pressed General Motors and Mexican officials to step up efforts to ensure workers at a pick-up truck plant in...

One-time Marlin Sergio Mitre sentenced to 50 years in Mexico prison for murder of toddler
One-time Marlin Sergio Mitre sentenced to 50 years in Mexico prison for murder of toddler
  • US
  • 2022-01-22 01:17:41Z

One-time Marlins pitcher Sergio Mitre was convicted in Mexico this week for the murder of the 22-month-old daughter of his then-girlfriend.

Mexico faces risks to growth, credit rating from energy bill -JP Morgan
Mexico faces risks to growth, credit rating from energy bill -JP Morgan

According to the bank, President Andrés Manuel López Obrador's plan to tighten state control of the electricity market could trigger sovereign debt rating...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business