25 March 2016
Mexico Amends Minimum Estimated Price for Woven Silk Ties
As previously reported, the Mexican government on 18 January expanded the minimum estimated price mechanism it established February 2015 on imported textiles and apparel by setting minimum estimated prices on a range of additional tariff lines. That action included the establishment of a US$11.06 per piece minimum estimated price for woven ties, bow ties and cravats of silk or silk waste classified under HTSMX 6215.10.01, but that price has since been lowered to US$2.95 per piece.
Minimum estimated prices are employed as a reference or guideline and may not be used to determine the customs value of the good. Importers who declare a customs value for their goods that is below the established reference price will be required to append to the import declaration proof of the deposit or security issued by the credit institution or surety authorised to operate customs escrow accounts. The deposit or security must cover the difference between the declared and estimated duties and antidumping measures, whenever applicable.