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 refund import duties until the date the Agreement enters into force. We will be communicating the relevant process once it is announced.
BREXIT: Update of the UK-Mexico Trade Continuity Agreement Thursday, January 21, 2021
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 refund import duties until the date the Agreement enters into force. We will be communicating the relevant process once it is announced.
Press Release
January 18, 2021
Bong Go cites need to mitigate hunger and inflation amid ongoing pandemic; lauds PRRD for signing EO modifying the rates of import duty on certain agricultural products
Senator Christopher Bong Go lauded President Rodrigo Duterte for signing Executive Order No. 123 modifying the rates of import duty on certain agricultural products under section 1611 of the Republic Act No. 10863, otherwise known as the Customs Modernization and Tariff Act.
The EO will further maintain the reduced tariff rates on mechanically deboned meat (MDM) of chicken and turkey until next year as a way to help curb hunger and prevent prices of said products from going up amid the ongoing COVID-19 pandemic.
Senator Christopher Lawrence “Bong” Go
(OFFICE OF SEN. BONG GO / FILE PHOTO / MANILA BULLETIN)
The order modifies the rates of import duty on certain agricultural products under section 1611 of Republic Act No. 10863, the Customs Modernization and Tariff Act.
Go, chairman of the Senate Health and Demography Committee, said the President’s order will further maintain the reduced tariff rates on mechanically deboned meat (MDM) of chicken and turkey until next year as a way to help curb hunger and prevent prices of the said products from going up amid the ongoing coronavirus disease (COVID-19) pandemic.
“This is most welcome and I support it,’’ Go, a former Special Assistant to President Duterte, said.
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