August 25, 2023
(press release)
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Discover important changes in the Decree by which Tariff Law of General Import and Export Taxes in Mexico is modified What are these updates about? Mexico’s Ministry of Economy has announced a series of temporary tariff modifications that will impact 392 product categories. These tariff adjustments range from 5% to 25% and cover a variety of products including steel, aluminum, bamboo, rubber, chemical products, oils, soap, paper, cardboard, ceramic products, glass, electrical material, musical instruments and furniture, to name a few. Decree's validity period This decree will come into effect on August 16, 2023, and will conclude on July 31, 2025. Which goods will be affected? Within this new tariff dynamic, products from various chapters have been classified: See all the tariff fractions affected here Temporary tariff changes As of August 16, 2023, goods classified under the following tariff codes will carry a 10% tariff. However, starting from January 1, 2024, until July 31, 2025, this tariff will increase to 25%. A) 7210.70.02 "Flat-rolled products of iron or non-alloy steel, plated or coated, painted, varnished or covered with plastic, of width greater than or equal to 600 mm.” B) 7212.40.04 "Flat-rolled products of iron or non-alloy steel, plated or coated, painted, varnished or covered with plastic, of width less than or equal to 600 mm", starting from the effective date of this decree until December 31, 2023. Repeals and additional changes The Decree brings along several significant points to consider: What should you do? We recommend taking the following actions: DSV, your trusted logistics partner The world of international trade is in constant motion, and staying updated is essential for maintaining operational success! DSV remains committed to keeping you informed and assisting you in your business operations so that importing and exporting is as smooth as possible. Should you have any questions or concerns, please reach out to your local DSV representative.
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