Mexico suspends temporary footwear imports to aid domestic industry

Signed on August 23, the decree was announced by Minister of Economy Marcelo Ebrard, who said it aims at protecting the domestic footwear industry.

Between 2019 and 2024, Mexico’s footwear sector saw a cumulative 3.1-per cent GDP drop and a 2.8-per cent drop in employment. The sector contracted by 12.8 per cent year on year (YoY) in 2024, losing nearly 11,000 formal jobs, the decree noted.

Imports of finished footwear under IMMEX rose sharply in 2024, increasing by 159 per cent in volume and 60.3 per cent in value compared with 2023. Compared with 2021, imports were 24 times higher in volume and 12 times higher in value.

The Huamantla Development Hub in Tlaxcala, one of 15 federal projects under Plan México, is 80 per cent committed to domestic and foreign investments and is expected to create about 6,000 jobs when operations begin next year, he was cited as saying by domestic media reports.

ALCHEMPro News Desk (DS)