The Ministry of Commerce, Industry and Tourism announced on April 7 a draft decree that would partially modify the National Customs Tariff and establish tariff thresholds for imported footwear. The proposal is currently open for public comment.
The main objective of the draft decree is to set a tariff rate of thirty-five percent on imports with a declared FOB price at or below certain thresholds, which vary depending on the specific tariff heading within Chapter 64 of the National Customs Tariff. For example, headings 6401, 6402, and 6404 have a threshold of seven US dollars per pair; heading 6403 has an eleven-dollar threshold per pair; and heading 6405 has an eight-dollar threshold per pair. For subheading 6406.10.00.00, which covers uppers for footwear, the thirty-five percent tariff would apply if the declared FOB price is five dollars ninety cents or less per gross kilogram.
Products classified under Chapter 64 that do not fall under these new tariffs will continue to be subject to tariffs outlined in Decree 1881 of 2021 and its amendments.
According to the ministry’s statement, “the established tariffs will remain in effect for five years from their effective date.” After this period ends, “the Committee on Customs Affairs, Tariffs and Foreign Trade will review whether it is necessary or appropriate to continue with these measures.”
Stakeholders are encouraged by officials to submit their comments regarding this initiative no later than April 14.
