New Mexican tariffs target goods imported via courier services, raising concerns for businesses and potentially disrupting the country's trade flow.
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| Mexico imposes new tariffs on goods from Asia, potentially impacting popular online retailers like Shein and Temu. The move aims to combat tax evasion and protect domestic industries. Image: Temu |
Mexico City - January 1, 2025:
Mexico's tax authority has implemented new tariffs aimed at strengthening the surveillance of goods imported from Asia, potentially impacting popular e-commerce platforms like Shein and Temu.
The new rules, effective January 1st, impose a 19% duty on goods entering Mexico via courier companies from countries without international trade agreements with the nation. As China, the origin country of Shein and Temu, lacks such an agreement, these companies could face significant challenges.
Furthermore, goods valued between $50 and $117 from Canada and the U.S. will now be subject to a 17% duty, while those exceeding $1 from other countries with trade agreements will incur a 19% duty.
These measures follow a recent decree that increased import duties on various goods, including clothing and home goods, to as high as 35%. The government claims these moves are intended to combat tax evasion, ensure fair competition for Mexican businesses, and safeguard domestic jobs.
However, industry experts warn that these policies could disrupt Mexico's IMMEX program, which allows foreign companies to import goods duty-free for manufacturing and export. This development comes amid concerns about potential U.S. tariffs on imports from Canada and Mexico.