Posted: Thursday, January 2, 2025. 9:52 am CST.
By Zoila Palma Gonzalez: Mexico’s tax authority, SAT, introduced new tariffs on Tuesday aimed at strengthening surveillance of goods from Asia, potentially affecting popular online retailers such as Shein and Temu, Reuters report.
Starting January 1, goods entering Mexico via courier companies from countries without an international treaty, like China, will face a 19% duty.
Goods from Canada and the U.S., part of the USMCA agreement, will incur a 17% duty on values between $50 and $117, while products from countries with treaties will also be taxed at 19% if they exceed $1 in value.
The new tariffs are part of a broader set of tax reforms aimed at curbing tax evasion and ensuring fair competition for Mexican businesses.
The changes follow a December decree that raised import duties on clothing and home goods to as much as 35%, impacting e-commerce giants like Shein and Temu, which compete with U.S. retailers.
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The post International News: Mexico imposes new Tariffs on goods from Asia, impacting retailers like Shein and Temu appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Thursday, January 2, 2025. 9:52 am CST. By Zoila Palma Gonzalez: Mexico’s tax authority, SAT, introduced new tariffs on Tuesday aimed at strengthening surveillance of
The post International News: Mexico imposes new Tariffs on goods from Asia, impacting retailers like Shein and Temu appeared first on Belize News and Opinion on www.breakingbelizenews.com.