Mexico has become one of the largest U.S. trade partners. Because of this, many businesses are considering doing business in Mexico, particularly as suppliers and product manufacturers for U.S. businesses. After accumulating a whopping $611 billion in trade through last year, it’s no secret that U.S. businesses have already jumped onto the opportunity.
So what exactly does it take to import from Mexico? It’s extremely important for importers to know the rules and regulations ahead of time before jumping into the opportunity to do business with Mexico.
In this article, we’ll answer all of your questions about importing from Mexico, including ““Do I need a license importing from Mexico?”” and ““What are the duties importing from Mexico?”
In a vast majority of situations, you won’t need a license to import goods into the United States from Mexico. However, some specific agencies may require some form of certification for certain products. If you’re involved in pharmaceuticals or a related medical product field, do some research on if your specific product requires an import license or permit.
In any case, rules and regulations for importing from Mexico more or less come down to your home country’s rules and regulations for accepting certain products. When it comes to Mexico, all Mexican importers need to register with the Official Register of Importers.
Outside of this, importing from Mexico to the U.S. is a relatively simple process once you brush up on the fine print and understand how to import from Mexico and the necessary taxes when importing from Mexico.
Like Canada, Mexico is often a great choice for seeking out Mexican suppliers for United States goods because they border the country. The closeness of Mexico to the U.S. also makes it quite easy to travel to Mexico to inspect factories and the process of production for a supplier.
Collaborating with colleagues and networking with other business owners that have utilized suppliers in Mexico is also a smart idea. But always ensure that you meet your supplier in person and inspect the factory you’ll be working with personally to avoid potential scams.
A sales contract is a must-have for a Mexican supplier deal. Such a contract will detail all of the information relevant to the partnership, from pricing to product outlines to shipping practices. A contract will keep both you and your supplier legally safe from one entity not keeping their deal with the other.
Incoterms will facilitate the negotiation, clarifying which part of the contract is responsible for the goods in each step of the transaction.
The most common way to import from Mexico is via ocean freight shipping. A full container (FCL) or shared container (LCL) would be your options for ocean freight. Choosing from these depends quite a bit on the volume of goods you’ll be importing. Check with iContainer to get the best rates for Mexican freight. Air freight could be also a possibility in some cases.
iContainers is dedicated to serving businesses and logistics companies in need of dependable international shipments, as well as top-tier trucking, customs aid, and insurance. Making the move to ship through Mexico could be a major money-saver in terms of manufacturing, and iContainer is here to help. In the wake of COVID-19, we’re still able to manage shipments with full capacity and provide our clients with excellent service in terms of temporary market restrictions to avoid delays. We believe in efficiency when it comes to international shipping. Get a quote for your upcoming Mexican supplier deal today!