‘Rising Barriers’ |
Mexico’s sweeping decision to impose tariffs of up to 50 per cent on more than 1,400 imported products is more than a routine policy recalibration. It is a marker of a world in which middle powers, squeezed by geopolitical pressure and domestic demands, are redrawing their own lines of economic self-preservation. For India, which appears on the list of affected countries, the move deserves close attention ~ not for its immediate commercial implications, but for what it reveals about the shifting architecture of global trade.
Mexico’s government has framed the tariffs as a push to bolster domestic industry. That argument is hardly new; protectionism often arrives cloaked in the language of national revival. Yet context matters. Mexico is taking these steps while locked in tense negotiations with Washington, which itself has revived steep import taxes against the country. The pressure is........