Tariff reform approved by the Mexican Congress: joint press release by MRE/MDIC

The Brazilian government is closely monitoring the tariff reform approved by the Mexican Congress, which will apply to imports from all countries that do not have free trade agreements with Mexico. The publication of the law’s final version is awaited in order to assess its impacts on Brazilian exports.

The tariff increase is not expected to affect most bilateral trade in the automotive sector, which is already covered by a sectoral free trade agreement (Economic Complementation Agreement No. 55 – ACE-55). The possible measures by the Mexican government, however, raise concerns that the tariff increase may undermine existing bilateral preferences in other sectors and negatively impact trade and investment between the two countries, depending on the final lists to be published.

Brazil and Mexico maintain economic and political relations marked by frank dialogue and shared strategic vision. In this context, Brazil has been in contact with Mexican authorities to address the possible effects of the tariff changes.

The Brazilian government reaffirms its expectation that unilateral decisions that may affect bilateral trade be examined in light of the mutual commitment to predictability, legal certainty and the deepening of productive integration. Brazil will continue to engage in a constructive dialogue with Mexico, with a view to preserving a positive environment of cooperation and ensuring favorable conditions for trade and investment between the two countries.