On December 2020, Mexico signed the Trade Continuity Agreement between Mexico and the United Kingdom of Great Britain and Northern Ireland (UK Mexico Trade Continuity Agreement, or TCA). The agreement seeks to preserve and give continuity to trade between both nations, maintaining conditions prior to Brexit, when it enters into force; It is transitory in nature and commits both parties to formalize a complete free trade agreement within a period of three years starting January 1, 2021.
The Mexican Senate ratified the agreement on March 10, 2021 and turned it over to the Executive Power for its publication and promulgation; the British Parliament has not ratified it yet. Once announced by both countries, importers will be able to request tax refund and customs contributions paid in excess for operations carried out between January 1, 2021 and the entry into force date of the Agreement. From there they will be able to have preferential conditions that applied before Brexit.
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