With a decree amending the law on general import and export taxes, Mexican President Andr\u00e9s Manuel L\u00f3pez Obrador increased export duties on 544 goods on 22 April 2024.<\/p>\n
Some of the affected goods are products made of aluminum and steel, wood, furniture, musical instruments, textile products, shoes, plastic, and chemical products. While the customs duties for these and other products used to be between 5 and 25 percent, comparable products will be subjected to customs duties of 35 or 50 percent as of 23 April with the entry into force of the regulation.<\/p>\n
Goods originating in countries that have already signed a trade agreement with Mexico are excluded from the tariff increases. Accordingly, the free trade agreement between the EU and Mexico (Tratado de Libre Comercio, TLC) has eliminated import duties for goods originating from the EU since 1 January 2007.<\/p>\n
The tariff increases are limited to two years from the amendment coming into force and aim to protect the domestic market from unfair trading practices by multinational companies. Among other things, the idea is to prevent the relocation of Mexican production facilities to other countries to safeguard jobs.<\/p>\n
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