On April 22, 2024, Mexico announced amendments to the tariffs under the “General Import and Export Tax Law,” setting provisional import tariffs ranging from 5% to 50% on 544 HS codes.
These regulations cover a wide range of products including steel, aluminum, textiles, clothing, footwear, wood, plastics and plastic-related products, chemicals, paper and cardboard, ceramics, glass, electrical materials, transportation materials, musical instruments, and furniture.
This temporary measure will be effective from April 23, 2024, to April 22, 2026. The decree aims to protect Mexico’s vulnerable domestic industries from disruptive international trade practices and to support the growth of the local market.
Specifically, the import tariff on stainless steel cold-rolled coils, seamless pipes, welded pipes, and other fittings includes:
- Maintaining the import tariff on stainless steel cold-rolled coils at 25% (with some cold-rolled steel strips at 20%);
- Increasing the import tariff on certain seamless pipes from 25% to 35%; maintaining the import tariff on welded pipes at 25%;
- Increasing the import tariff on stainless steel threaded elbows, bends, and butt-weld fittings from 25% to 35%.