On April 22, 2024, the Ministry of Economy published in the Mexican Official Gazette a Decree by means of which the rate of the General Import and Export Tax Law is modified and updated, particularly the rates contained therein.

This decree establishes temporary import tariffs with rates between 5% and 50%, which will be applicable to 544 different tariff items corresponding to products/inputs of the steel, aluminum, textiles, clothing and footwear, wood, plastics sectors. , chemicals, paper and cardboard, ceramic products, glass, electrical equipment, transportation equipment, musical instruments, and furniture, among others.

The aforementioned decree is product of coordination between the Mexican government and the government of the US. The above, as a measure to avoid evasion of the tariffs imposed on steel and aluminum when imported into the United States, through triangulation processes with Mexico, as well as to avoid unfair trade practices. It is important to note that these modifications should not affect goods originating from countries with which Mexico has concluded treaties or agreements that grant preferential tariff treatment.

Through this Decree, the “Decree that modifies the Rate of the Law of General Import and Export Taxes” published in the Official Gazette of the Federation on August 15, 2023, is left without effect, by which Tariffs were established on the import of various goods.

The aforementioned Decree also includes some tariff fractions listed in the “PROSEC” Decree that establishes various Sector Promotion Programs for the automotive, auto parts, electrical and electronics industries.

Therefore, it is important to review and confirm the tariff fractions used in the importation of products to Mexico, as well as confirm and verify the origin of the goods to be imported along with all the supporting documentation available regarding said origin.