The UK’s trade deal with Mexico was signed in June 2021 and acts as a Trade Continuity Agreement (TCA) keeping preferential trade tariffs post-Brexit.
What does the UK Mexico Trade Deal mean for your business?
The TCA was put in place in order to retain the tariffs that existed whilst the UK was part of the EU. The preferential tariffs are applicable to import shipments from Mexico into the UK, and export shipments to Mexico from the UK.
Can I benefit from the UK Mexico Trade Deal?
If you are a UK exporter and have goods which are of UK origin then you should be able to utilise an EUR1 stating so and therefore granting preferential tariffs for your goods once they arrive in Mexico. The Incoterm that you have agreed with your customer in Mexico will specify who is responsible for paying for the import duties and taxes in Mexico.
Likewise, for importing from Mexico, if your Mexican supplier is able to provide an EUR1 then you should benefit from a special tariff when importing from Mexico into the UK, allowing a reduced rate for import VAT and duty upon UK customs clearance.
How can I find out more about UK-Mexico Tariffs?
Check HMRC’s UK tariff for import, you will need to know the commodity code and select Mexico as origin country.
Contact our team to get a quote for your next import shipment from Mexico, or export shipment to Mexico from the UK. Our team will be glad to help: (+44) 02392 756 575, or email sales@mercatorcargo.co.uk. Alternatively you can complete the form below and someone will be in touch.
