Mexico Imposes Temporary Import Tariffs on Various Commodities

On April 22nd, Mexican President Andrés Manuel López Obrador signed a decree imposing temporary import tariffs on 544 commodities ranging from steel and aluminum to textiles, clothing, footwear, timber, plastics and their products.

The decree took effect on April 23rd and is set to remain in place for two years. Under the measure, textiles, clothing, and footwear products will face a 35% temporary import tariff; round steel with a diameter of less than 14 millimeters will be taxed at 50%. For goods imported from regions and countries that have signed trade agreements with Mexico, preferential tariff treatment will be granted if they comply with the relevant provisions of the agreement.