Mexico Imposes New Tariffs on Asian Imports

Mexico's tax authority has implemented new customs duties that could significantly affect online retailers like Shein and Temu, particularly those shipping goods from China, which lacks a trade treaty with Mexico. Effective January 1, a 19% duty will be imposed on products arriving from countries without international agreements with Mexico, while goods from Canada and the U.S. will incur a lower duty under the USMCA. This move is part of a broader strategy aimed at closing tax loopholes and supporting domestic businesses, including a recent decree that raises import duties on various goods up to 35%. The regulations may disrupt Mexico's IMMEX program, which has allowed foreign companies to import goods tax-free for manufacturing. Industry experts warn that these changes could make it more challenging for e-commerce platforms competing with U.S. retailers. These tariff adjustments come amid a backdrop of increasing scrutiny on imports from Asia, particularly as Mexico navigates its trade relations following the U.S.-China trade war.