the “ DECREE modifying the Tariff of the General Import and Export Tax Law †was published in the Official Gazette of the Federation, through which the various Decree published on August 15, 2023, which had established modifications to 392 tariff fractions, was repealed.
In continuation of this policy, as of April 23, 2024, it was determined to temporarily increase, in a range of 5% to 50%, the tariffs applicable to various goods classified in 544 tariff fractions corresponding to, among others, steel, aluminum, textiles, clothing, footwear, wood, plastic and its manufactures, chemical products, paper and cardboard, ceramic products, glass and its manufactures, electrical material, transportation material, musical instruments and furniture.
Through this Decree, the Federal Executive estimated that national production chains have been affected by the slowdown in economic growth caused by geopolitical and commercial conflicts, reducing their competitiveness in the national and international markets.
On the other hand, the Decree reiterates that goods originating from countries party to a Free Trade Agreement signed with Mexico may continue to enjoy tariff preference when imported, as long as the requirements established in the corresponding treaties are met.
Additionally, the Decree in question includes new tariff fractions for the electrical, electronic, automotive and auto parts industries that allow companies that are holders of the Sectoral Promotion Programs to import them with reduced tariffs.
Finally, the decree in question will be valid for two years, so we recommend verifying the list located in the attached document, in order to contemplate the new tariffs provided for therein.
