Mexico has raised import tariffs for products affecting its domestic textile industry to up to 35%, Economy Minister Marcelo Ebrard announced on Thursday, December 19th, with President Claudia Sheinbaum. Finished textile products will face a 35% tariff while textile merchandise imports will face a 15% import tariff. The increases will remain in place until April 22, 2026.
The new policy exempts countries with which Mexico has a free trade agreement, such as Canada and the US through the USMCA. While some speculated that the tariff was directed at cheap Chinese imports, the minister said the tariffs were not aimed at any particular country.
“With this, we’re going to encourage the development of our national industry because a strategic objective of shared prosperity is to increase the national content of everything we consume,” the minister outlined.
As the inauguration of President-elect Donald Trump grows closer, the move could be interpreted as the Mexican government assuring its regional neighbors of its commitment to free trade on the continent. Both Trump and Canadian officials have expressed worries that cheap Chinese goods are entering the North American market through Mexico.
Trump recently threatened both Canada and Mexico with a 25% tariff on all goods if the countries didn’t tackle illegal border crossings and drug trafficking. It set off a spat between the two countries, as Canada emphasized that the scale of the problem in the northern and southern borders of the US was not comparable.
In November, Ebrard announced that the country was launching a “cleaning” operation to tackle the flow of illegal merchandise. The announcement followed a raid on a shopping center in Mexico City known for selling cheap Chinese goods.
The tariff policy also aims to combat piracy on patents.
“Mexico imposes 35% import tariffs on the textile sector” was created and published by Investment Monitor, a GlobalData-owned brand.
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