The Mexican Secretariat of Finance and Public Credit (SHCP) has taken measures to adjust reference prices applicable to footwear imports to help combat smuggling and the undervaluation of imported goods. This decision was made as part of ongoing efforts to address economic challenges posed by these illicit practices within the country's import system. The adjustments were detailed in a resolution published in the Official Journal of the Federation, which amends certain annexes related to the estimation of import prices for various goods, including different types of footwear.

In the published resolution, the Treasury emphasized the necessity of updating the reference prices to reflect ongoing changes in the market conditions. These new estimated prices are specifically aimed at ensuring that imported footwear aligns more closely with actual market values, thereby minimizing the risks associated with undervaluation. According to the Treasury, undervaluation can lead to significant financial losses for the country, affecting tax revenues and market competition.

By implementing these adjustments, the Mexican government is signaling its commitment to safeguarding domestic industries from the adverse effects of illegal trade practices. The ongoing efforts to stabilize import pricing can assist local manufacturers in competing fairly against imported products that are often sold at lower prices due to undervaluation. In summary, this regulatory measure reflects a larger strategy to bolster the national economy and maintain fair market practices within the region.