Horacio Alvarado

Recent changes in Mexican tariff regime affect US companies with manufacturing operations in Mexico IMMEX companies engaging in temporary importations of ‘sensitive’ goods under the IMMEX Program for subsequent export to the United States may need to consider the implications of potential increases in Mexican duties and tariffs. To develop a comprehensive understanding of the potential impacts according to each company’s structure (e.g., maquiladoras, Mexican toll manufacturers that are not maquiladoras, contract manufacturers), as well as the overall supply chain, companies may wish to model various scenarios including different transactional and operational flows. Further, IMMEX companies may want to consider an analysis of these impacts under the United States-Mexico-Canada Agreement (USMCA) to avoid potential additional tariffs when exporting to the United States, as well as other financial and tax perspectives. 

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🇲🇽MANUFACTURING AND INDUSTRIAL ACTIVITY In July, Mexico's industrial activity rose by 0.2% month-over-month, marking its third consecutive monthly increase, as reported by the National Institute of Statistics and Geography (Inegi). However, this growth was slower compared to the previous two months and was the second-weakest July in the past five years. Analysts from Infosel had expected a monthly decline of 0.3%, making the actual figures a positive surprise, according to analysts at Banorte Casa de Bolsa. They noted that despite the favorable start to the third quarter of 2024, the outlook remains challenging with expectations of stable performance ahead. Sector-wise, mining production increased by 1.4%, construction by 2.6%, while electricity generation and distribution, along with water and gas supply, decreased by 0.9%. Manufacturing, the largest contributor to the indicator, fell 0.8% in July, interrupting two months of growth. This decline was led by reductions in the plastics and rubber, wood, and transportation equipment industries. On an annual basis, industrial activity grew by 2.1% compared to July 2023, exceeding analysts' expectations of a 0.7% increase. Despite a positive annual performance, with significant gains in construction and manufacturing, Banorte analysts highlighted a lack of clear growth drivers for the second half of 2024, projecting a somewhat negative trajectory in the coming quarters. Source: Axis Negocios Non official translation

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Priscilla Aloyo, a VP of information technology, shares insights in @AmChamSal Business magazine about how the talent in #ElSalvador and #CostaRica contribute to our tech prowess. Check out the article here (page 16): https://lnkd.in/eQxZVkRQ

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Attention US and Canadian companies! Mexico is emerging as a leading force in the accounting industry. With over 43,348 accounting graduates in just one year (2022-2023), there are more than 480,000 practicing accountants in Mexico as of Q2 2023. The cultural similarities and widespread English proficiency in Mexico facilitate seamless collaboration, and the cost-effectiveness of this talent pool allows for continued growth investment. Interesting right? Check out Intugo blog post "3 Signs You Need Nearshore Accounting" for a deeper dive into the benefits of nearshore accounting and to determine if it's right for your company: https://bit.ly/4c8itTF

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