Overview
- The Chamber of Deputies’ Economy Commission is set to vote Monday on a revised plan to raise import duties across 1,463 tariff lines, with a plenary debate expected Dec. 9–10.
- Lawmakers softened the executive’s proposal, commonly setting 25% duties for sectors such as auto parts, machinery, textiles, toys and appliances, while keeping 35% on footwear and certain steel products.
- The draft removes a clause that would have allowed the executive to change tariffs unilaterally, eliminates a fixed expiry date, and sets entry into force for January 1, 2026.
- An analysis cited in the draft estimates the measures would cover $51.91 billion in imports, equivalent to 8.3% of Mexico’s total imports in 2024.
- The adjustments focus on imports from countries without free trade agreements, notably China and several Asian and Middle Eastern suppliers, and the Chinese embassy warned the move could dampen investment confidence.