Mexico Tax and Tariff Increase 2024

On April 22, 2024, the Mexican Government published a modification to the Tariff of the Law of General Import and Export Taxes.

The Mexican government has established temporary import tariffs ranging from 5% to 50% for 544 HS codes. These codes include items such as steel, aluminum, textiles, apparel, footwear, wood, plastic, and products related to plastics, chemicals, paper and cardboard, ceramics, glass, electrical material, transportation material, musical instruments, and furniture, among others.

This temporary measure is in force from April 23, 2024, through April 23, 2026. The Decree aims to combat unfair competition from countries with which Mexico doesn’t have free trade agreements.

U.S. exporters are encouraged to carefully examine the list of impacted products and be aware of the opportunity to take advantage of the USMCA special compliance and tariff treatment to see potential exports to Mexico.

The complete list of the HS Codes impacted by this change is available in the Official Mexican Gazette.
https://www.dof.gob.mx/nota_detalle.php?codigo=5724207&fecha=22/04/2024#gsc.tab=0

The U.S. Commercial Service in Mexico can assist U.S. exporters in resolving customs-related issues. For further questions on this issue or if you encounter any problems with Mexican Customs, please Ask Manny, contact: Manuel.Velazquez@trade.gov