30 June 2016
Mexico Amends Minimum Estimated Prices for Textiles and Apparel
The Mexican government recently amended the minimum estimated price mechanism it established in February 2015 on imported textiles and apparel by setting new estimated prices on a range of items, effective 1 June These prices will be employed only 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.