On June 7, 2019, a deal was reached between the U.S. and Mexico to avert the implementation of tariffs on imports from Mexico, that were due to go into effect on June 10, 2019.
In response to an influx of migrants moving from Central America, through Mexico, to the U.S, import tariffs were proposed under the International Emergency Economic Powers Act. Duty rates were to begin at a 5 percent duty rate, and progress another 5 percent each month until reaching a maximum of 25 percent in October.
The U.S. Department of State provides details of the resolution, saying the two governments will work together to implement a durable solution.
If you have any questions regarding the deal reached averting tariffs on imports from Mexico, Livingston can help! Please contact either your Livingston account manager or our regulatory affairs group at email@example.com