In order to control the rising prices of basic goods by stopping import barriers, the Mexican government will extend its anti-inflation measures until December 31, 2023 and add more new products to the list of goods temporarily exempt from tariffs.

The measures are the Package Against Inflation and Shortage (PACIC) and the Opening Agreement against Inflation and Scarcity (APECIC), which were introduced in May and October last year, respectively.

Among the 33 items that will be newly added to the list, there are two items related to the steel industry. Flat-rolled iron or steel products in a width of more than or equal to 600 mm and those in a width of less than 600 mm will be exempted from import tariffs, only if they are used to make containers for beverages and food. These products are under HS codes 7210.70.02 and 7212.40.04.