U.S. Plastics Industry Association: Mexico's Tariff Hike Benefits U.S. Plastics Exports

The Plastics Industry Association's chief economist, Percy Pineda, recently commented on Mexico's imposition of tariffs of up to 35% on imported goods from countries without a free trade agreement, stating that this move will bring significant export opportunities for the U.S. plastics industry.

In an analysis published on the association's website, Pineda stated that the tariff adjustments involve products such as plastic resins, plastic products, and processing equipment, with total imports of these products reaching $18.7 billion in 2024. Imports from free trade agreement countries accounted for 75.5% of this total, leaving $4.6 billion worth of imports that are now more easily replaceable due to the tariff increase. As a member of the USMCA, the United States is exempt from this tariff hike. In 2024, the United States accounted for 57.6% of Mexico's total imports of these products, corresponding to a trade value of $10.8 billion.

Pineda stated, "Mexico's tariff adjustments create a clear window of opportunity for U.S. plastics companies, enhancing the competitiveness of U.S.-produced resins, plastic products, machinery, and molds, especially for those product categories with tariff increases of 15% or more."

Pineda pointed out that Mexico is a core market for the U.S. plastics industry, with 26% of total U.S. exports of plastic resins, products, and processing equipment going to Mexico in 2024.

The tariff increase measures are tentatively scheduled to be implemented until the end of 2026. During this period, the Mexican government will assess the policy's impact and decide whether to adjust or repeal the relevant measures based on the actual situation.