Mexico Imposes 35% Temporary Tariff On Textile & Apparel Imports
The Mexican President has signed a decree to impose temporary import tariffs of 5 to 50 percent on 544 commodities which includes textiles, apparels, footwear, wood, plastics, steel, aluminum, etc.
According to the decree, textiles, apparels, footwear and other products will be subject to a temporary import tariff of 35 percent and will be valid for two years.
Goods imported from regions and countries that have signed trade agreements with Mexico will enjoy preferential tariff treatment if they meet the relevant provisions of the agreement.
In August 2023, Mexico hiked import tariffs on 392 tariff items. Nearly 92 percent of the products in these tariff items are now subject to a 25 percent tariff, and only certain textiles will attract 15 percent tariff.
All of this is also for countries with which Mexico does not have a free trade agreement and is valid until July 31, 2025.
The aim outlined in the Decree is to provide fair market conditions for sectors of the domestic industry facing vulnerability due to practices that disrupt and affect international trade.
This is aimed at fostering the development of the domestic industry and supporting the domestic market.
Among other reasons, the decree references new global trade models, such as nearshoring, to avoid economic distortions that may affect the relocation of productive sectors considered strategic.
