Modification of the Tariff in Laws of General Taxation on Imports and Exports

We inform all of our customers that yesterday April 22 in its DOF evening newsletter that will enter into effect today April 23, 2024, the Ministry of Economy published the new Tariff in the Law of General Taxation on Imports and Exports, with a duty increase of 35% on Imports and 544 customs duty sections will be affected, the measure is temporary as mentioned in the newsletter, which will last for 2 years; The affected sections are mainly 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, furniture, among others.

According to the Ministry of Economy. this measure is taken so as to provide certainty and fair market conditions to the national industry sectors that are affected by vulnerable situations, this derived from the practices that disrupt and affect international trade, therefore the development of national industry will be improved and the domestic market will be supported.