The National Council of the Export Manufacturing Industry (Index) warned that tariffs on manufactured goods and textiles from countries with which Mexico does not have trade agreements will affect the maquiladora industry in the north and southeast.
“Exporting companies in other areas of the country, such as in the north and southeast, may be affected by measures similar to those defined today, since they have indicated restructuring of processes, scared away new investments and reinvestments, and some corporations have “made the determination to transfer export production to other countries,” declared Humberto Martínez Cantú, president of the organization.
The Ministry of Economy reported this Thursday that a temporary tariff of 35% will be imposed on ready-made goods, corresponding to 138 tariff fractions, as well as 15% on the import of textile goods, corresponding to 17 fractions to protect the Mexican textile industry.
“The proposals should always boost Mexican industry and Mexico’s position as the United States’ main trading partner,” the council stated.
“Today everyone’s objective, the president of Index Nacional stated that it is to consolidate Mexico among the main economies in the world and among the 10 main exporters, as well as to make the announcements of up to 50 billion dollars of Foreign Direct Investment a reality, thanks to business relocation,” he indicated.
“The maquiladora industry sees with reservations that the measure is fully effective, increasing tariffs on manufactured goods to 35% and 15% on the import of textile goods, with the exception of markets with which there is a free trade agreement,” he explained.
“While we always support efforts to avoid illicit commercial practices that affect production and job creation in our country, we also appeal to take care of the other side of the coin, which are the exporting companies that require products from the textile-clothing chain,” he added.
Read: Premature to talk about economic effects of possible tariffs: Fed
He indicated that regarding the comment that 48% of the goods imported under the Export Manufacturing and Maquiladora Industry program do not register a return, the difference is due to the fact that, although textiles entered through a defined chapter, As they went through a transformation process, their output is declared with a different fraction than the input.
“We suggest that measures such as those announced today be reviewed in advance and thoroughly with Index in coordination with the Ministry of Economy and representatives of the textile-clothing chain,” he said.
“This implies – as we are doing with steel and national suppliers – reviewing the tariff fractions and IMMEX programs to define exceptions when textiles are not manufactured in Mexico and are 100 percent for export,” he explained.
He said that the main textile producing states are the State of Mexico, Puebla, Hidalgo, Coahuila, Jalisco and Guanajuato, which will benefit from the new policies, of which 4 have a presence in Index.
Do you like to get informed through Google News? Follow our Showcase to have the best stories
