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

by Mike Robinson

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© Reuters. FILE PHOTO – Tatiana Clouthier, Mexican Economy Minister, gestures in a Reuters interview, Mexico City on January 11, 2021. REUTERS/Dave Graham

MEXICO CITY, (Reuters) – Mexico has begun to analyze a variety of answers for the proposed U.S. tax credit on electric vehicles and may even apply tariffs, Tatiana Clouthier, Mexican Economy Minister said Thursday.

Clouthier stated that tariffs have been imposed in the past. He said that he would propose or do something strategic and very important for these products at those locations where they hurt them, so the consequences could be felt.

Clouthier declared that it was not a good idea, but stressed that Mexico would protect its automobile industry, which employs about 1,000,000 people.

U.S. Congress considers a new $12,500 credit for tax, including $4,500 to union-made U.S. electrical vehicles. A House proposal would only allow U.S.-made vehicles to be eligible for the $12,500 credit.

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