Policy proposals floated in a changing landscape for the United States could have far-reaching effects, especially on import tariffs into the U.S. Are exporters—particularly in Mexico and China—looking at increased trade tariffs of up to 35 percent?

In order for the new administration to offset a potential reduction in the corporate tax rate, they will have to consider all vehicles for acquiring revenue, especially those that would facilitate a move in the direction of turning the U. S. to a net exporter, according to an analyst with Integration Point. “We are so active within many trade organizations working with lawmakers to determine the next course of action,” said Joe Passalaqua, Integration Point Manager-Senior Accounts, “We are also positioning ourselves to have solutions ready for our client base as the tides change across the international trade community.”

What is the Tariff of the Import and Export General Taxes (TIGIE) update project?

The tariff is an essential tool in trade policy. It establishes taxes for the exportation or importation of different goods and gives statistic information of commerce with the purpose of evaluating and setting distinct public policies. Tariffs also allow for more specific economic analysis.

The TIGIE of Mexico is no exception. Given its important role in trade facilitation, the TIGIE is currently undergoing a thorough update process in order to coincide with the implementation of the WCO Sixth Amendment.