MEXICO CITY/SHANGHAI:
Electric car rivals BYD and Tesla are set to be the biggest losers from Mexico’s proposed 50% tariff on autos imported from China, triggering a likely blow to the fast-growing electric car market in Mexico while sparing the traditional “Big Three” US car manufacturers.
The proposed tariff, announced on Wednesday, targets electric and gasoline cars imported from all countries that Mexico doesn’t have a free trade agreement with, including South Korea, India, Indonesia and Russia. In practice, however, the tariff would mostly impact electric cars manufactured in China and sold in Mexico, industry analysts said.
