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UK - Mexico Rules of Origin Agreement Extended Ahead of Expiry

The UK government has negotiated an extension to existing rules of origin agreements with Mexico that were due to expire in January 2024. As a result, British businesses who use EU components in their manufacturing will continue to receive the lower or zero tariffs on exports to Mexico originally agreed in the EU 'rollover deal.'.

The extension, which will come into force from 1st January 2024, will bridge the gap until the UK agrees a new Free Trade Agreement with Mexico. It is particularly good news for the automotive sector, which accounts for around 20% if all UK exports to Mexico and relies on cumulation to receive preferential tariffs on exports to Mexico.

The full article from GOV.UK can be read here.

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