Tariffs
De Minimis
What is De Minimis, its role in foreign trade, and how it applies to customs operations in Mexico.
What is De Minimis, its role in foreign trade, and how it applies to customs operations in Mexico.
In the foreign trade tariff system, De Minimis is a key technical concept that directly influences the total import cost and product competitiveness in the national market.
What is De Minimis, its role in foreign trade, and how it applies to customs operations in Mexico. Mexico's tariff system is based on the General Import and Export Tax Law Tariff (TIGIE), harmonized with the WCO Harmonized System. Tariffs can be modified through free trade agreement negotiations, presidential decrees, or trade defense measures such as anti-dumping duties.
Understanding the tariff system allows companies to accurately calculate import costs, identify savings opportunities through trade agreements, and strategically plan their foreign trade operations.
Tools like Camtom's TariffPro enable tariff lookups, identification of applicable preferential rates, and import cost simulation in seconds, facilitating informed trade decisions.
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An 8 or 10-digit numerical code that identifies a specific product within Mexico's tariff schedule (TIGIE), determining applicable duties and regulations.
TariffsAd Valorem Tariff
An import duty calculated as a percentage of the customs value of goods. It is the most common type of tariff in international trade.
TariffsCountervailing Duty
An additional duty levied on imported goods that are subject to dumping or foreign government subsidies, designed to protect domestic industry from unfair trade practices.