With the entry into force of the new TMEC (Free Trade Agreement between Mexico, the United States and Canada), which replaces the previous NAFTA, the boost to trade between the three North American countries seems to be taking on a new dynamic that bodes well for those companies that dare to take the step to export goods to these markets.
It is common knowledge that Mexico competes year after year for the position of main trading partner of the United States, with the export of multiple products to that market. However, this is a two-way trade, since by 2020, exports from the United States to Mexico represented a considerable figure of 196 billion dollars per year in products such as refined petroleum, motor vehicles, parts and electrical circuits, a figure that is expected to increase considerably in the immediate future.
Given the dynamic commercial activity between both countries, the process of importing U.S. goods into Mexico has been simplified in recent years, however, as is to be expected, there are regulations that must be fully complied with in order to successfully carry out such activity.
If you are planning to enter the Mexican market for the first time from the United States, the first thing we should recommend is to seek advice from specialists in the field who have extensive knowledge of the market and can guide you through the necessary customs procedures in Mexican territory, so that your products can enter the country without any setbacks.
On the other hand, there are a series of documents that are essential when planning your export: the commercial invoice, the certificate of origin and a certificate of weight and volume are three of these documents that you must manage obligatorily. In addition, your products must be properly identified with serial numbers, brand information and the tariff headings to which they belong.
Although the TMEC establishes a very special tariff regime for U.S. products that aspire to enter the Mexican market, your customs broker must review case by case for each of your products, in order to be sure about the possibility of entering under the figure of zero tariff or on the contrary aspire to some preferential tariff. Likewise, the Mexican government establishes other types of taxes for certain products such as alcoholic or sugared beverages, or new automobiles, for example. We recommend that you seek advice from companies that have a real and accurate knowledge of the current legislation.
Fortunately, being neighboring countries, transportation times are considerably reduced, with an average of 7 to 15 days for the transit of commercial vessels between both countries. As in many other cases, bilateral trade currently requires the need to purchase cargo insurance for the protection of goods, so we recommend you also take action on the matter.
If your company is a U.S. company and you are planning to enter the Mexican market, contact us, we will draw up a customized roadmap for your product taking into account your needs to facilitate your successful entry into such an important market.