Decree modifying Import taxes in Mexico

On April 22, 2024, the Mexican Ministry of Economy published in the Official Gazette of the Federation a Decree amending the tariffs of the General Import and Export Tax Law, proposing temporary tariffs ranging from 5% to 50% on imports of goods belonging to the 544 tariff items such as steel, aluminum, textiles, clothing, footwear, wood, plastics, chemical products, paper and cardboard, ceramic products, glass, electrical material, transport material, musical instruments, furniture, among others. The import tariffs will be in force for two years, from April 23th, 2024, to April 22th, 2026.

For more details check the official complete Decree in this link:

https://www.dof.gob.mx/nota_detalle.php?codigo=5724207&fecha=22/04/2024#gsc.tab=0