In relation to our recent insights
Brexit: A First Look at UK-Mexico Trade Continuity
Agreement s Relevant Issues, the Governments of Mexico
and the United Kingdom have informed that although their internal
ratification procedures have not yet been completed, they both have
established transitional mechanisms to maintain, beginning as of
January 1, 2021, preferential tariff treatment in accordance with
the following:
The Government of the United Kingdom
will provisionally apply the Agreement, maintaining preferential
tariff treatment to Mexican imports.
As per the Government of Mexico,
United Kingdom imports will be subject to Most Favored Nation (MFN)
rates, however, a transitional mechanism will be established to
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On December 15, 2020, the Mexican Secretary of Economy and the
Secretary of State for International Trade of the United Kingdom,
issued a joint statement through which they communicated the
signing of the UK-Mexico Trade Continuity Agreement.
Based on the joint statement, the Agreement will maintain
preferential access for trade between the two countries following
the end of the United Kingdom s Transition Period with the
European Union on December 31, 2020, when the European Union-Mexico
Global Agreement will no longer apply to the United Kingdom.
The purpose of the Continuity Agreement is to avoid the
To embed, copy and paste the code into your website or blog:
On December 15, 2020, the Mexican Secretary of Economy and the Secretary of State for International Trade of the United Kingdom, issued a joint statement through which they communicated the signing of the UK-Mexico Trade Continuity Agreement.
Based on the joint statement, the Agreement will maintain preferential access for trade between the two countries following the end of the United Kingdom’s Transition Period with the European Union on December 31, 2020, when the European Union-Mexico Global Agreement will no longer apply to the United Kingdom.
The purpose of the Continuity Agreement is to avoid the imposition of the World Trade Organization´s Most Favored Nation tariffs as a default measure, that otherwise would have become applicable after December 31st.
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