Fiscal measures and exchange rate favor national footwear
The increase in the dollar and the 18% compensatory quotas applied to Chinese footwear in 2024 have had a positive impact on the Mexican market. According to Luis Quirarte Bernáldez -president of the Chamber of the Footwear Industry of the State of Jalisco (CICEJ)-, these measures have limited imported products and strengthened domestic consumption, boosting national sales by up to 20 million pairs annually.
The exchange rate, which shifted from 16 to 20.50 pesos per dollar, has increased the cost of footwear imports. Meanwhile, traders are more interested in local production due to the combination of the 25% tariff and compensatory quotas, as stated by the leader in an interview with El Economista at the end of December.