Mexico Increases Tariffs on China and Non-Treaty Countries by up to 50%

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In the evening edition of the DOF, the Ministries of Finance and Economy reported that it will also apply to products such as chemicals, paper, and cardboard.

In response to the impact of unfair practices by countries with which Mexico does not have a treaty, the Mexican Executive decided to raise tariffs between 5% and up to 50% on products of steel, aluminum, textiles, clothing, footwear, wood, plastic, and their manufactures.

As well as on chemical products, paper and cardboard, ceramic products, glass and their manufactures, electrical material, transport material, musical instruments, furniture, among other products.

In the evening edition of the Official Gazette of the Federation this Monday, the Ministries of Finance and Economy reported that products such as tires will have a tariff of 35%, boxes, bags, and similar presentations of paper or cardboard, with an assortment of correspondence articles will also have the same tax.

The agencies stated that “it is convenient to establish temporary tariffs, between 5% to 50%, on the import of goods classified in 544 tariff fractions… with the aim of providing certainty and fair market conditions to the sectors of the national industry that face situations of vulnerability, derived from practices that alter and affect international trade, and thus promote the development of the national industry and support the domestic market.”

A tariff of 50% was imposed on circular steel products with a diameter of less than 14 millimeters, among other products. The tariffs will come into effect from tomorrow for a period of two years from the date of publication.

Source: El Universal