Carli Valinoti, Express Trade Capital
President Trump has announced plans to impose 5 percent tariffs on all goods imported from Mexico, rising to as high as 25 percent until – according to the White House – the Mexican government stems the flow of migrants. While most specifics are not yet known – conceptually, tariffs will become effective June 10 and gradually increase by 5 percent each month until they reach 25 percent in October.
What we still don’t know:
- If the action is to be administered by the date of export
- If all exports from Mexico to the US are covered including non-Mexican origin goods exported from Mexico and the US goods returned
- Whether NAFTA benefits for duty and merchandise processing fee will be allowed
- Whether these tariffs are eligible for drawback, among others
Contact us today to learn about ETC’s trade protection financing options.