Economy & Business - September 2023

MEXICO: Temporary import tariffs could harm investment

On 16 August Mexico’s economy ministry (SE) published temporary tariffs that will be levied on imports from countries that do not have a trade agreement with Mexico. These will remain in place until 31 July 2025. The changes to the law of general imports and export taxes came into force following the publication of a decree in the official gazette (DOF). The countries that will see their exports most affected by this are South Korea, India, Taiwan, and China, which have become significant trade partners to Mexico despite not having signed an agreement with them. This is particularly the case with China.

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