According to a report by Mexico’s “Reforma” on November 9, Mexico’s textile and apparel manufacturing industries are highly protected in the Trans-Pacific Partnership Agreement (TPP). The TPP Agreement stipulates that in the above two areas, some categories of products will be subject to immediate tariff reductions, while other categories of products will be subject to a tax-free buffer period of up to 16 years. Products subject to immediate tariff exemptions include silk, ties, synthetic yarns and natural fiber textiles; products subject to a 5-year tax holiday are mainly raw materials for the textile industry; products subject to a 10-year tax holiday include cotton products and those required by the aviation industry Textiles, woolen products, women’s ready-to-wear and sportswear, etc.; products with a 16-year tax holiday include underwear, kitchen towels, cotton pants, etc.
According to statistics from the Mexican Ministry of Economy, from January to August 2015, Mexico’s apparel exports to TPP contracting countries were mainly concentrated in the United States and Canada, with exports of US$1.593 billion and US$23.62 million respectively, exports to Japan of US$3.23 million, and exports to Chile of US$1.2335 million. Ten thousand U.S. dollars.
