Tariffs increased on imported products
In mid-August, the General Import and Export Tax Law was modified in its rates through a decree published in the Official Gazette of the Federation by the Mexican government's Secretariat of Economy.
Thus, imported products from countries that do not have a trade agreement with Mexico will be impacted by a "temporary increase", aiming to support the local market, promote the development of the industry, and benefit manufacturers by integrating them into value chains.
Some of the included sectors are footwear, apparel and textiles, which have suffered the impact of unfair trade and the economic downturn, creating difficulties for small and medium-sized enterprises and the relegation of Mexican products, as reported by the national government.