Mexico Imposes 156% Tariff on Sugar Imports
Mexico has imposed a tariff of 156% on imports of sugar, according to a decree published Nov. 11 in the country's Official Gazette.
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Mexican President Claudia Sheinbaum raised the levy because Mexico is facing an oversupply of sugar in the domestic market "that is putting at risk the profitability and viability of the entire production chain," according to an unofficial translation.
The new tariff rate of 156% ad valorem applies to all types of sugar except for refined liquid sugar, which faces a rate of 210.44%. The previous duty rates for sugar ranged between $0.338 and $0.39586 per kilogram.