Mexico's shoe sector is bracing for a tough 2012 after the country in December implemented tong-awaited rules easing imports from China as part of World Trade Organization agreements. Other sectors, Like clothing and toys, also expect to be impacted by stronger competition from tower-priced Chinese goods.
The winners? Mexican consumers. Meanwhile, the new rules are also anticipated to reduce unfair practices such as incorrect classifications or sending goods through third countries, experts say.
The result will be another jump in trade between Mexico and China. During the first half of 2011, two-way trade reached $26.6 billion, an increase of 23 percent from the same period Last year, according to Mexico's ministry of economics.
In 2010, total trade between Mexico and China reached $49.8 billion, an increase of 43.5 percent compared to 2009. Of that, imports from China accounted...