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It has slashed tariffs to 5% across the board.
Many have argued for higher tariffs to protect local farmers.
He also switched the utility tariffs to pesos and froze them.
But beef and dairy farmers will have to wait for tariffs to be lifted gradually.
The Mexican government, lowering tariffs to meet GATT standards, unintentionally threw the iguanas out of work.
The body commits members to reducing all tariffs to zero within ten years.
Complaints about everything from steel tariffs to the axis of evil are rife.
Mr Varadharajan wants high tariffs to replace them.There are less-defensive approaches.
Indeed, Mr Chidambaram says that he still aims to reduce tariffs to ASEAN's levels by 2000.
So, might it work to instead use tariffs to make American goods more competitive in China?
The new restrictions range from higher tariffs to costly import licences and customs controls.
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