SAO PAULO/MEXICO CITY, Jan 7 (Reuters) - E-commerce

giants Amazon.com ( AMZN ) and MercadoLibre ( MELI ) stand to

benefit from new tariffs on low-cost imports into Mexico over

Asian retailers like Shein and Temu, according to analysts at

Itau BBA.

Mexico this month imposed a 19% tax on imports via courier

services from countries with which it does not have a free-trade

agreement, which includes China.

Imports from the U.S. and Canada, part of a regional trade

agreement with Mexico, will be exempt on purchases worth under

$50. Items worth between $50 and $117 coming from the U.S. and

Canada will face a 17% duty.

"The policy seems primarily targeted at Asian players like

Shein and Temu, which previously benefited from exemptions on

imports below $50," analysts at Itau BBA wrote in a note sent to

media on Tuesday.

The measures come amid heightened trade tensions with the

U.S. President-elect Donald Trump, who campaigned on a promise

to impose stiff tariffs, including on Mexico and Canada, doubled

down on the threat on Tuesday, promising "very serious" tariffs

on the two countries.

Trump has previously accused Mexico of being a backdoor for

Chinese goods, which Mexico has denied. Still, Mexican officials

recently launched "Operation Clean-Up" to seize contraband goods

sent into the country from Asia.

Amazon ( AMZN ) stands to gain the most from the changes, according

to the Itau BBA team, followed by MercadoLibre ( MELI ).

Around 30% of goods sold by Amazon ( AMZN ) in Mexico are shipped in,

mostly from the U.S., according to Itau BBA.

MercadoLibre ( MELI ) brings in some 15% of its goods sold in Mexico

from abroad, largely from China, Itau BBA said.

While the tariffs will impact MercadoLibre's ( MELI ) goods sourced

from China, "the overall effect should be net positive" on the

reduced competition, the analysts wrote.

Mexico last month announced a 15% tariff on imports of raw

textiles and 35% on finished fabric-based products like

clothing, curtains and blankets.

"Some companies used loopholes to import finished products,

primarily from China, to redirect these goods to the local

market," Itau BBA said, arguing the strategy had disrupted fair

competition in the local market.

Both MercadoLibre ( MELI ) and Amazon ( AMZN ) should continue strengthening

their foothold on Mexico and are "growing fast," Itau BBA said.

(Reporting by Patricia Vilas Boas in Sao Paulo and Kylie Madry

in Mexico City;)