Global News Of Note: Mexico Imposes Tariffs On Metals Imports From Non-FTA Countries

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• Earlier this month, Mexican lawmakers approved a package of tariffs on imports of more than 1,400 products, including metals and cars. The penalties of up to 50 percent will take effect Jan. 1, 2026 and will only apply to products from countries that do not have a free trade agreement with Mexico. Read more from the BBC.
• As Politico reported, in trade discussions with the Trump administration, the European Commission will prioritize efforts to get products containing steel and aluminum exempted from U.S. tariffs. Trade Commissioner Maroš Šefčovič singled out the U.S. government’s list of “derivative” products containing steel and aluminum, which are subject to a 50 percent tariff, as a priority area where the two sides must negotiate.
• China’s imports of unwrought aluminum and aluminum products fell 14 percent between November 2024 and November 2025. For the first 11 months of 2025, however, imports were up 4.4 percent from the same period in 2024. Read more.
• As Reuters reported, China’s aluminum production rose by 2.5 percent to 3.79 million metric tons from November 2024 to November 2025. In the first eleven months of the year, China produced 41.17 million metric tons of aluminum, an increase of 2.5 percent from the same period in 2024.