Updates to Mexico's import and export tariffs
Discover important changes in the Decree by which Tariff Law of General Import and Export Taxes in Mexico is modified
What are these updates about?
Mexico’s Ministry of Economy has announced a series of temporary tariff modifications that will impact 392 product categories. These tariff adjustments range from 5% to 25% and cover a variety of products including steel, aluminum, bamboo, rubber, chemical products, oils, soap, paper, cardboard, ceramic products, glass, electrical material, musical instruments and furniture, to name a few.
Decree's validity period
This decree will come into effect on August 16, 2023, and will conclude on July 31, 2025.
Which goods will be affected?
Within this new tariff dynamic, products from various chapters have been classified:
- Chapter 28: Inorganic chemicals
- Chapter 39: Plastics and their manufactures
- Chapter 40: Rubber and its manufactures
- Chapter 48: Paper and cardboard
- Chapter 49: Editorial products
- Chapter 52: Cotton
- Chapter 64: Footwear
- Chapter 70: Glass
- Chapter 87: Vehicles, windshields, bicycles
- Chapter 92: Musical instruments
- Chapter 94: Furniture
Temporary tariff changes
As of August 16, 2023, goods classified under the following tariff codes will carry a 10% tariff. However, starting from January 1, 2024, until July 31, 2025, this tariff will increase to 25%.
A) 7210.70.02 "Flat-rolled products of iron or non-alloy steel, plated or coated, painted, varnished or covered with plastic, of width greater than or equal to 600 mm.”
B) 7212.40.04 "Flat-rolled products of iron or non-alloy steel, plated or coated, painted, varnished or covered with plastic, of width less than or equal to 600 mm", starting from the effective date of this decree until December 31, 2023.
Repeals and additional changes
The Decree brings along several significant points to consider:
- Repeal of decrees published on November 18, 2022, in the Official Gazette of the Federation, including the "Decree modifying the Tariff of the General Import and Export Taxes Law."
- Due to the "Decree establishing various Sectoral Promotion Programs" (02/08/2002 and subsequent modifications), certain tariff codes will be included in specific programs during the decree's validity period.
What should you do?
We recommend taking the following actions:
- Update: Ensure access to new tariff rates, regulations, and the tariff codes affected by changes.
- Planning: Account for tariff change dates in your business operations.
- Guidance: For supply chain planning and clarification, reach out to your regular DSV representative.
DSV, your trusted logistics partner
The world of international trade is in constant motion, and staying updated is essential for maintaining operational success!
DSV remains committed to keeping you informed and assisting you in your business operations so that importing and exporting is as smooth as possible. Should you have any questions or concerns, please reach out to your local DSV representative.
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