Import tariffs on footwear increased by 35%
At the end of April, the Ministry of Economy announced in the Official Gazette of the Federation a modification to the tariffs on certain imported products, including footwear.
These temporary taxes will range from 5% to 50%, aiming to promote the local market and national industry, which is currently facing a challenging period. The initiative will apply to countries with which Mexico does not have trade agreements.
Specifically for footwear, the rate increased from 25% to 35% and covers 45 out of a total of 50 tariff fractions.