Law360, New York (February 8, 2016, 5:02 PM EST) -- Last month, the Mexican government published a new list of apparel and textile goods with "estimated prices." These estimated prices are the minimum reference price that goods ranging from raw materials to finished products may be imported into Mexico. The list was categorized by Harmonized Tariff Schedule classification number. Companies should expect that shipments entered with customs values declared below these prices will be considered "undervalued" and likely subject to further investigation and potential penalties. The list also set a uniform floor and does not distinguish between unrelated or related party transactions, the country of origin of the merchandise or rely upon any allegations of dumping or subsidized costs. Rather, the list represents the authorities' determination that open market prices simply cannot be below a certain value. This announcement follows a trend of countries publicly acknowledging the use of reference pricing or similar mechanisms to impute a customs value on import transactions....