Overview
- The Chamber of Deputies’ Economy Commission is set to vote today on changes to the General Import and Export Tax Law covering about 1,463 tariff lines.
- Proposed quotas range from 7% to 50% across sectors including automotive parts, textiles and apparel, plastics, appliances, aluminum, toys, furniture, footwear, leather goods, paper, motorcycles, trailers, glass, soaps, perfume and cosmetics.
- Many rates initially proposed at 35% are reduced to 25% for personal care, textiles, auto parts, toys and motorcycles, while footwear and a range of steel products remain at 35%.
- The package targets suppliers without free-trade agreements with Mexico, naming China, South Korea, India, Vietnam, Thailand, Brazil, Indonesia, Taiwan, Nicaragua, the United Arab Emirates and South Africa, and is estimated to affect 8.3% of 2024 imports.
- Lawmakers removed a clause that would have allowed unilateral executive tariff changes and eliminated an end date, setting entry into force for January 1, 2026 pending full Chamber approval this week.