- Cashmere & Fine Fibres
Mexico has postponed for one year the reduction of import duties set for 2013 on footwear and other products of the textile and apparel industry coming from China.
In December 2011 the temporary duties came to an end which had been in effect for three years on Chinese goods such as footwear and items of clothing and which had been set at 70% to 80%.
Mexico´s Economic Secretary considered it convenient to extend for a year the adjustment period of such tariffs before opening up the local market even more. The aim is to be able to consolidate plans and productive models of these sectors and in this way allow them to be well positioned in the internal market.
In Mexico the footwear and textile industries represent more than ten percent of the local manufacturing industry and must be protected in the face of the Free Trade Agreement signed with China.
Information courtesy of Fashion United. Translated from Spanish by Richard Smith