On January 20, 2025, President Trump took office and one of the initial actions of his Administration was the issuance of an executive order entitled “America First Trade Policy”, instructing various government agencies and government officials to conduct a series of investigations, reviews, analyses and public consultations, to be completed by April 2025, in order to address trade practices that may be considered unfair and imbalanced, and to develop a strategy to reduce dependence on foreign goods, increase domestic production, and evaluate trade policies, including the imposition of tariffs.

These actions are related, among other issues, to:

1. Trade deficits, unfair practices, and potential national security threats, with recommendations for corrective actions, including the possible implementation of a global supplemental tariff.
2. Feasibility of creating the External Revenue Service (ERS), a system for collecting tariffs, duties, and other foreign trade-related revenues.
3. Preparation for the July 2026 USMCA review process.
4. China's trade policies, and assessment of compliance with previous agreements, with recommendations to impose tariffs or other measures.
5. Contraband and its implications, including the loss of revenue from tariffs, and an evaluation of the current policy for duty-free imports for shipments with values below USD$800.00 (de minimis).
6. Adjustments to current steel and aluminum tariffs.

It is important to note that the executive order does not immediately impose tariffs or other measures. However, President Trump suggested to the press the possibility of imposing 25% tariffs on goods from Canada and Mexico starting February 1, 2025.

We recommend that companies stay updated on announced and implemented measures resulting from the above and evaluate alternatives to avoid or mitigate their impact.

Our Foreign Trade and Customs team is at your disposal for any questions regarding the potential implementation of tariffs or other measures, as well as for the evaluation and determination of strategies in preparation for them.

This newsletter was prepared by  José Alberto Campos Vargas ([email protected]); Eduardo Sotelo Cauduro ([email protected]);  Roberto Serralde Rodríguez ([email protected]); María Luisa Mendoza López ([email protected]); Juan Carlos Jiménez Labora Mateos ([email protected]); Evelyn Marina Villanueva Picos ([email protected]); and Tamara Danae Chacón Jiménez ([email protected]).