LatinNews Daily - 2 January 2025

*Mexico’s tax authority (SAT) has announced new tariffs as part of measures that seek to bolster the surveillance of goods from Asia. According to the SAT, the changes - which follow the announcement of other new tariffs last month - stipulate that goods entering Mexico via courier firms from countries that lack international treaties with Mexico will face a 19% tariff. Also under the changes, goods entering the country via courier companies from Canada and the US, which are part of the US-Mexico-Canada trade agreement (USMCA), will face a 17% tariff if the value is higher than US$50 but less than US$117. According to the SAT statement, the changes are in line with efforts to “meet fiscal obligations, boost revenue, reduce tax evasion and avoidance, and combat contraband”. International media such as Reuters and Spanish daily El País note that companies affected will include Chinese e-commerce firms Shein and Temu as Mexico lacks the requisite treaties with China. The changes come less than a month before US President-elect Donald Trump is due to take office and who has threatened a 25% tariff on all imports from Mexico, as well as Canada, until the countries crack down on the flow of migrants and drugs crossing the border.