On August 15, 2023, the Mexican Federal Executive published a Decree (The Decree) amending the Tariff of the General Import and Export Duties Law to increase import duties for commodities classified in 392 Mexican Tariff Codes, up to 25%. The aim of The Decree is to protect certain industries considered as vulnerable, such as the electronic, electric, automotive and auto part industries.<\/p>\n\n\n\n
The Decree affects commodities made of steel and iron; chemicals; soap; plastic manufactures; rubber; paper and cardboard; publishing products; cotton; synthetic or artificial filaments; synthetic fibers; knitted fabrics; knitwear and its accessories; clothing; textile articles; footwear; hats; ceramic products; stone products; gypsum; cement; asbestos; glass; steel and iron foundry manufactures; manufactures of copper, nickel, and aluminum; tools, implements and cutlery made of metal; metal manufactures; machinery; motor vehicles; aircrafts; musical instruments; furniture and diverse manufactures.<\/p>\n\n\n\n
The Decree establishes that the temporary rates should be in force from August 16, 2023, to July 31, 2025, and provides that once the temporary rates expire, the original duty rates will be back in force, as originally published in the law on June 7, 2022.<\/p>\n\n\n\n
The Decree also establishes that after July 31, 2025, certain flat-rolled products of iron or steel will be excluded from preferential duty treatment under the Sectorial Promotion Programs (PROSEC) of the Electric, Electronic, Autopart and Automotive Industries.<\/p>\n\n\n\n