Mexico has not fully capitalized on the opportunity created by nearshoring , despite the advantages offered by its trade integration with the United States and its position in North America, said Paulina Anciola, Deputy Director of Economic Studies at Banamex .

In an interview with T21, the specialist pointed out that, although investments associated with the relocation of production chains were registered after the COVID-19 pandemic , the phenomenon did not reach the magnitude that was expected a few years ago.

“In terms of nearshoring , I really think a large part of it remained just a narrative,” he stated.

Anciola acknowledged that these investments were made particularly in the Bajío region, where new centers were established. However, he noted that the realization of nearshoring has been less than expected, since in the last two years there has been practically no significant influx of new capital , and a large part of the Foreign Direct Investment (FDI) corresponds to reinvestment of profits from companies already established in Mexico.

In that regard, he explained that during the first years after the pandemic there was an expectation that Mexico would capture a significant portion of the investment that was looking to leave Asia and move closer to the US market.

However, he considered that the increase in global uncertainty ended up “cooling” some of those projects.

“When there is greater uncertainty, long-term investment tends to wait for conditions to be a little more favorable, for rates to be a little lower, and for the rules of the game to be clearer,” he explained.

The economist argued that the country maintains structural advantages that are difficult to replicate , particularly due to its proximity to the United States and its participation in the United States-Mexico-Canada Agreement (USMCA).

“At the end of the day, being on the side of the United States is going to stay there forever, and Mexico is going to have that advantage against the rest of the world forever,” he said.

However, he warned that the country continues to face challenges in terms of productivity, infrastructure, job training, and investment certainty.

“I think a large part of nearshoring has been lost because of that, and I think Mexico has been in the ‘now we are going to take advantage of the opportunity’ phase for many years, and in the end it has never fully materialized,” he stated.

According to Anciola, as long as there is no new wave of investment,  it will be difficult to talk about a consolidation of the phenomenon in Mexico.

According to the Ministry of Economy , FDI in Mexico reached a record figure of 23 billion 591 million dollars (mdd) in the first quarter of 2026 (1Q26), which meant a growth of 10.4% compared to the same period in 2025.

Of the total FDI, new investments increased 7.5% year-on-year in Q1 2026; while reinvestment of profits registered a year-on-year increase of 33.5% in the cycle.

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El cargo The materialization of nearshoring has been less than expected: Banamex apareció primero en T21.

Investment expectations in Mexico have not changed after the presentation of the Mexico Plan , stated Paulina Anciola, Deputy Director of Economic Studies at Banamex , considering that the strategy has not yet shown concrete results to trigger new productive projects .

The specialist explained that Banamex kept its economic projections for the country unchanged and currently forecasts a growth of 1.3% for 2026, above the consensus of analysts of 1.1% and the estimate of 0.8% from the Organization for Economic Cooperation and Development (OECD) .

“When the Mexico Plan came out, everyone was asking us: ‘Are you finally going to change your growth forecasts?’ The truth is, we didn’t make any changes,” he asserted.

Anciola pointed out that, although the strategy sets ambitious goals to boost investment and economic growth, there are still doubts about how they will be implemented and evaluated.

“We think that much of it remained just a very nice plan, with many good ideas and many metrics that would be good to achieve, but then it wasn’t followed up on. They didn’t explain how these goals are going to be met, how they are going to be implemented, or what indicators are going to be used to evaluate progress,” he commented.

The economist considered that one of the main obstacles to attracting capital continues to be the uncertainty perceived by investors in both the national and international environment.

“On the one hand they are telling you: ‘We have the Mexico Plan, we want to boost investment,’ but at the same time they have made a series of reforms that only increase regulatory uncertainty,” he stressed.

In his opinion, this situation has led many companies to adopt a cautious stance while they observe the evolution of the reforms and the economic environment.

“What we have seen in recent years is that investors seem to be in wait-and-see mode, waiting a bit to see how the reforms turn out,” he said.

He also emphasized that Foreign Direct Investment (FDI) announcements should be analyzed in greater detail. Although the overall figure was positive last year, Banamex observed a decline in FDI during the fourth quarter.

Furthermore, he explained that a large part of the reported resources correspond to reinvestment of profits from companies that already operate in Mexico and not necessarily to the arrival of new productive projects .

“When you break down the data, there are no new investments. Virtually all foreign investment is from the large companies that are already here,” he stated.

According to Anciola, as long as a new wave of investment is not observed and uncertainty persists, it will be difficult for Mexico to fully take advantage of the opportunities associated with the relocation of production chains.

“Until we see a wave of new investments, I don’t think we can say that it’s materializing,” he concluded, referring to nearshoring .

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El cargo Plan Mexico has not changed investment expectations: Banamex apareció primero en T21.

The review of the United States – Mexico-Canada Agreement (USMCA) could extend for at least two more years and result in annual evaluations until 2028 before reaching a final agreement, estimated Paulina Anciola, deputy director of Economic Studies at Banamex .

During a discussion organized by Mundi , the specialist explained that the agreement includes a review in July 2026, at which time the three countries will have to decide whether to extend its validity for another 16 years. However, there is also the possibility of maintaining annual reviews while negotiations continue.

“There are about three possible scenarios regarding this review. The first would be that on July 1st, all three parties say, ‘we agree,’ and the treaty is extended for another 16 years. That’s what we think is unlikely to happen,” he noted.

Anciola explained that the second scenario would be that one of the countries decides to abandon the agreement , while the third contemplates successive annual reviews in case the parties do not reach a consensus on the future of the treaty.

“What we see right now as the most likely scenario from Banamex is annual reviews, at least until 2028,” he stated.

The economist explained that this mechanism could remain in place for up to 10 years as long as the three trading partners remain within the agreement. If there is no consensus at the end of that period, the treaty would expire .

According to Banamex, the uncertainty associated with the review process will remain present in the coming years, although investors have begun to adapt to a more complex decision-making environment.

Anciola believes that an automatic renewal in 2026 looks complicated due to the pressure exerted by the United States, since the discussion of the agreement is no longer limited to trade issues.

“Everyone was already expecting that it would be very difficult to have a clean review on July 1st and that it would be automatically renewed because of all the pressure we have seen from the United States, not only on trade issues, but it is now mixed with security issues, with migration issues, with trade issues,” he commented.

The specialist added that the administration of Donald Trump, President of the United States, could use the review process as a tool for political and commercial pressure on various fronts, so the uncertainty surrounding the agreement could extend beyond 2026.

“We believe that the review of the USMCA will be a process, not an event,” he concluded.

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El cargo Banamex anticipates annual reviews of the USMCA until 2028 apareció primero en T21.

Fernando Chico Pardo’s career takes a turn, returning to his roots in the financial sector, with the announcement of his acquisition of a 25% stake in Grupo Financiero Banamex, equivalent to 520 million shares , for a value of $2.3 billion.

His beginnings date back more than 40 years to the financial sector, while the airport and maritime sectors have been avenues of acceleration for the entrepreneur, who, according to various analyses, is the eighth richest man in Mexico.

In 2014, Chico Pardo became Carrix ‘s largest shareholder , acquiring nearly 50% of FRS Capital Corporation’s shares. Carrix is ​​part of the port operator SSA Marine, which also has its subsidiary SSA Marine México .

Carrix, with a significant presence in the United States and Latin America, is a group of maritime and transportation infrastructure and services companies focused on generating a lasting impact on a large scale, according to information on the company’s website.

Meanwhile, SSA Marine is a marine terminal and cruise port operator “dedicated to creating safe, efficient, and sustainable operations that shape the future of global trade.” SSA’s largest asset is the Port of Long Beach, California, United States, which recorded its second-busiest August in its 114-year history.

SSA Marine México operates in Mexico’s main ports. It operates a container terminal and a multipurpose terminal in Manzanillo; it has a car terminal in Lázaro Cárdenas and Veracruz; it also has a multipurpose terminal in Tuxpan; and it operates cruise terminals in Cozumel and Progreso.

In the accumulated through August 2025, the port of Manzanillo, one of the most important operated by SSA Marine Mexico, reported handling of two million 544 thousand 359 containers (TEU) , that is, 40% of the total TEU operated nationwide.

Your investments take flight

Since 2003, the Mexican businessman has been Chairman of the Board of Directors of Grupo Aeroportuario del Sureste (Asur) , which manages the airports in Cancún, Cozumel, Huatulco, Mérida, Minatitlán, Oaxaca, Tapachula, Veracruz, and Villahermosa.

It also manages Luis Muñoz Marín International Airport in San Juan, Puerto Rico , after receiving permission from the United States aviation authorities to operate this terminal in 2013. It also operates six airports in Colombia.

Asur has been listed on the New York Stock Exchange  since 2000 and on the Mexican Stock Exchange (BMV) . In 2024, the company served 41.4 million passengers at these airports.

Chico Pardo, who holds a degree in Business Administration from the Universidad Iberoamericana in Mexico City and an MBA from the Kellogg School of Management at Northwestern University , also serves on the boards of Grupo Carso , Grupo Industrial Saltillo , and GEPP.

The origins

Fernando Chico began his career on Wall Street in 1982. That same year he founded Acciones y Asesoría Bursátil , a brokerage firm that merged with Inbursa in 1992. As a result, Chico Pardo became CEO of Grupo Financiero Inbursa until 1997.

He also founded  Promecap , a private equity firm in Mexico, where he currently serves as president and CEO. This firm focuses on investments in Mexican companies and manages assets of  more than $5 billion .

He is also the founder and majority shareholder of two hotel platforms, which together manage more than nine thousand rooms in the all-inclusive luxury segment and three thousand in the ultra-luxury segment, in partnership with brands such as Four Seasons, One and Only, Rosewood, Hyatt, and others.

Regarding the acquisition of a quarter of Banamex, the Citi Financial Group announced in a statement that this investment represents the beginning of a long-term strategic relationship with one of Mexico’s most successful and respected business leaders.

The financial group indicated that Chico Pardo’s investment demonstrates confidence in Banamex’s future and the development of its current strategy to continue growing across all business lines. The transaction is subject to customary closing conditions, including obtaining regulatory approvals in Mexico, and is expected to be completed in the second half of 2026 .

(Photo taken from A21.com.mx)

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El cargo Fernando Chico Pardo, from transportation, joins the banking sector; acquires a stake in Banamex. apareció primero en T21.

According to figures from the National Institute of Statistics and Geography (Inegi) , Mexico’s Gross Domestic Product (GDP) grew only 0.2% in the first quarter of 2025, with which the country avoided a technical recession, due to the primary sector, which involves agricultural activities, since both services and industrial production fell 0.1% in the period, considered Rodolfo Ostolaza , deputy director of Economic Studies at Banamex .

At the Banamex Dialogues event , he emphasized that production fell 0.1% during that period, and recalled that it had also shown a 1.5% decline in the fourth quarter of 2024. In this regard, he indicated that the tariffs imposed by the United States had a significant impact, “especially on the advancement of purchases by North American users.”

Regarding construction , he noted that civil engineering projects, including trains, airports, and others, have grown significantly in recent years, although this expansion has already concluded. He estimated that it will decline further due to a decline in public investment of approximately 14% in real terms.

Regarding services , he said that after 13 consecutive quarters of increases, this sector showed a decline in the first quarter of 2025.

Given this scenario, the specialist specified that in the last three quarters, from the third of 2024 to the first of 2025, “it has been external demand, that is, exports less imports, that has generated growth.”

In his remarks, he considered that Mexico does have a relatively better tariff position compared to other countries, as it is highly integrated with the United States, “but the key here is to understand that we will have a greater share of U.S. investment, but a smaller share.”

Ostolaza asserted that Mexico remains the United States’ main supplier of goods, although Vietnam and Taiwan are beginning to appear more prominently in this regard. He indicated that the financial institution forecasts zero growth for the country this year. “It’s possible that the economy’s stagnation will continue,” he emphasized.

Economy in the federal entities

Campeche, Tabasco, and Quintana Roo showed a drop of around 7% in GDP in 2024, according to Guillermina Rodríguez , director of Economic Studies at Banamex.

The specialist indicated that in Tabasco and Campeche, the GDP decline was due to the completion of flagship projects of the previous administration, such as the Dos Bocas refinery and the Mayan Train, while in Quintana Roo, it was due to a weak performance of the tourism sector.

“In the rest of the country, we’re seeing some signs of growth, perhaps most significantly in Nuevo León, but we also have Durango and Oaxaca, the latter two primarily driven by investments in construction,” he emphasized.

Meanwhile, Nuevo León and Chihuahua posted positive numbers in the first quarter of the year, taking advantage of the tariff situation to export, especially manufactured goods.

Inflation, with ups and downs for the remainder of the year

Paulina Anciola , deputy director of Economic Studies at Banamex, said that although inflation has been rising this year, reaching 4.5% in the first half of June, this figure is not as negative as it seems, since it is “in fact, the historical average of inflation.”

“So it’s not surprising that we’re at those figures now. In any case, we do think it will resume a downward trend, especially in June and July, which would drop inflation below 3% in July and then rebound to return to 4% by the end of the year,” he noted.

He noted that this increase is part of what’s happening within the core component (which excludes goods and services with more volatile prices or those that don’t respond to market conditions), as merchandise inflation is rising slightly faster than services inflation is falling.

“In any case, this increase in merchandise inflation was relatively expected because it had been very low in recent years and is also returning to its historical average,” he emphasized.

In this regard, he estimated that headline inflation could close the year at 4%, while core inflation would remain at 3.9%. He added that the Bank of Mexico (Banxico) is expected to make 25 basis point cuts between now and the end of 2025, which would bring the rate to 7.25%.

Regarding the exchange rate, he predicted it would close the year at around 20.6 pesos per dollar, pressured by factors such as the revision of the United States-Mexico-Canada Agreement (USMCA) , which could take place in the second half of the year.

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El cargo Mexican economic stagnation could extend, warns Banamex apareció primero en T21.

The specialist specified that tariffs are a bad measure for the global economy, the U.S. economy, and Mexico. “We estimate that Mexico has imposed some tariffs , but particularly on anything that doesn’t respect the United States-Mexico-Canada Agreement (USMCA) .”

He explained that the Mexican economy has been stagnant for two years due to very high interest rates and the previous administration’s “overreach” in fiscal matters and excessive spending.

“It’s internal uncertainty, it’s the elections, and a rather worrying deterioration of the checks and balances in Mexico, with judicial reform and elections for judges, which is a structural factor. The truth is, this prevents us from being more optimistic about the Mexican economy in the long term, because legal certainty and the certainty of the rules of the game are very important, and you can’t see it overnight. That’s going to continue to be negative,” he stated during the Banamex Dialogues event .

What does the global outlook look like?

Regarding the global outlook, Sergio Kurczyn noted that on the financial front, “things are going quite well, with a lot of nervousness in the financial markets, but beyond the risks, if you look at the stock markets, the American one in particular has done well so far this year, but also others like the European one.”

Interest rates have been declining in recent quarters , across the globe in general, the specialist estimated, adding that in terms of productive activity, the global Gross Domestic Product (GDP) tends to grow by around 3% and was close to this goal in 2024, although he anticipated a slowdown to 2.3% this year.

“In the central scenario, that is, in productive activity, we have been seeing a slowdown in the global economy for several months now, and in particular a slowdown in production in the American economy, which is very important for Mexico and also helps explain the outlook for slowdown or stagnation we see for the country’s economy,” he emphasized.

He asserted that these figures “are good numbers” and emphasized that “there are financial conditions for growth today.”

Despite this, he considered that there is nervousness due to current and structural factors such as Donald Trump ‘s presidency and the changes and executive orders he has signed, which have contributed to the inflation caused by tariffs.

U.S. interest rates affect Mexican interest rates, especially medium- and long-term interest rates, although short-term interest rates in the country depend on what the Bank of Mexico (Banxico) does in the coming months.

Among the geopolitical issues that affect the global economy, energy is almost always a factor, as was the case in Ukraine with the price of gas, he added.

“We believe that commodities will remain there, so the geopolitical issue becomes a risk, but not in the sense that it will affect oil supply in the central scenario. We already have the price of oil for us, which will be five dollars lower in 2025 compared to 2024, or even another five dollars in 2026. We no longer see anything affecting the global economy in terms of oil prices,” he added.

For the specialist, the configuration of globalization and the deglobalizationthat is being promoted is changing, which is negative for the world, particularly for the United States, and also for countries like Mexico that are heavily dependent on the external sector.

He said that the tariffs imposed by the United States are the highest in 100 years, since after “Liberation Day,” named by Trump, on April 2, they rose to 25% after having reached 2.5% in 2024, although the US president later backtracked, so he estimated that they are at approximately 13%, however, he estimated that they could go lower.

“We estimate they’re around 13%, which is hard to keep track of exactly, a lot, 13% versus 2.5%, but it already sounds reassuring compared to 25%. We think they’ll end up around 10%, with a lot of gaps here and there, and many exceptions,” he shared.

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El cargo Despite the tariff and geopolitical environment, there is optimism about the global economy: Banamex apareció primero en T21.

Although private consumption declined at the end of 2024, in January 2025 it achieved a slight increase of 0.1% at a monthly rate compared to December of last year, when it had a monthly decrease of 0.5% , estimated the National Institute of Statistics and Geography (Inegi) .

According to the Timely Indicator of Private Consumption (IOCP) , for December 2024, the organization forecasts an annual variation in private consumption in the domestic market of 0.6% and for the first month of this year of 1.9 percent .

According to Inegi data, consumption behavior in December 2024 and January 2025 occurred in a context where inflation stood at 4.21% at an annual rate at the end of last year, while in the first month of 2025 it was 3.59%annually.

The above indicates that general inflation in January 2025 continued to slow down, after reaching 3.69 percent in the first half of that month . In addition, the behavior of January 2025 represented the lowest level since February 2021. With this, inflation in Mexico also linked three months of decline.

According to the financial institution Banamex , since the second half of last year, inflation in the country has been declining, although it predicted that by the end of this year it could be 3.8 percent .

The same institution estimated that the 25% tariffs proposed by the President of the United States, Donald Trump , for Mexico, if applied, would aim to be inflationary , which would affect domestic consumption.

The figures from the Timely Indicator of Private Consumption were also released after the  Bank of Mexico (Banxico)  lowered the interest rate by 50 basis points on February 6, leaving it at  9.5 percent .

Inegi noted that the IOCP presents an advance estimate of the Monthly Indicator of Private Consumption (IMCP) , and its purpose is to provide timely and accurate estimates of private consumption in Mexico.

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El cargo Private consumption is expected to grow in January after a fall at the end of 2024 apareció primero en T21.

In January 2025, the  Consumer Confidence Indicator (ICC) in Mexico stood at 46.7 points , which meant a decrease of  0.3 points per month , according to information from the  National Institute of Statistics and Geography (Inegi) .

The figures show that consumer confidence fell again in the first month of this year, as the indicator recorded three consecutive months of declines .

The Inegi report indicated that, in its annual comparison and with figures adjusted for seasonality, the ICC registered an annual drop of 0.4 points .

“Monthly reductions were observed in the components that capture the expected economic situation of household members, the current and future economic situation of the country, as well as in the component related to the current possibility of household members to make purchases of durable goods. The indicator corresponding to the current economic situation of the household showed a monthly increase,” the agency indicated.

During January 2025, the indicator that measures consumers’ perception of the country’s economic situation today compared to 12 months ago decreased by 0.2 points .

Meanwhile, the component relating to the  country’s expected economic condition in one year compared to the current one decreased by 0.9 points . In turn, the indicator that measures the expected economic situation of household members in 12 months, compared to the current one, also showed a decrease of 0.6 points .

The only category that saw an increase was the current economic situation of household members compared to 12 months ago, with 0.3 points , Inegi said in its report.

The political environment in the United States, which seeks to impose a protectionist economy by charging tariffs on partner countries of the Treaty between Mexico, the United States and Canada (T-MEC) , as well as the January slope, are some of the factors that have influenced the decrease in consumer confidence.

According to a report by the financial institution Banamex , the tariff measure that the new government of our northern neighbor is seeking to impose on Mexico would aim to be inflationary , which could lead to lower domestic consumption in the coming months, if it comes into effect.

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El cargo January downturn hits consumer confidence; indicator has been on a downward trend for three months apareció primero en T21.

Since the second half of last year, inflation in Mexico has been declining and, according to Paulina Anciola , deputy director of Economic Studies at Banamex , the forecasts of this financial institution indicate that by the end of 2025, general inflation could be 3.8 percent .

Anciola said that the 25% tariffs proposed by the President of the United States, Donald Trump , for Mexico, if applied, would be inflationary.

“We think that in Mexico the risk of an economic recession will be a little stronger, since inflation would not change much from what we have in the current scenario,” he added at the Banamex Dialogues event.

Regarding the Bank of Mexico’s (Banxico) forecasts for rate cuts , he indicated that the central bank could begin to make cuts of 50 basis points.

“Banxico raised its rate to 10% in December and has already announced several times that it wants to perhaps increase the magnitude of the cuts this Thursday, since we are going to have the first monetary policy decision of the year and we were already seeing a 50 basis point cut in this decision since the beginning of the year,” he added.

At a press conference, he said that the issue of tariffs could generate a lot of volatility in the financial markets, as well as a certain depreciation.

Regarding the exchange rate, he pointed out that they have seen a “very strong depreciation and very high volatility” since the second half of last year, especially since the victory of President Claudia Sheinbaum, “the truth is that the super peso is over, we saw more or less a depreciation of around 20% throughout last year.”

He pointed out that the economic policies implemented by Trump will continue to generate volatility in financial markets, which could cause the exchange rate to close at 21.20 pesos per dollar this year.

Economic activity, with a weak close in 2024

Meanwhile, Iván Arias , director of Economic Studies at Banamex, commented that during the fourth quarter of 2024, economic activity had a weak close, with a quarterly drop of 0.6% , which, he said, is the worst figure since the third quarter of 2021.

Arias noted that there was a slowdown last year, among other factors, due to lower investment, which was more noticeable in the second half of 2024.

The specialist also said that they estimate a growth of the Gross Domestic Product (GDP) of only 0.2% for this year, if the tariffs are temporary, lasting three or four months. If they are permanent, the estimate is a fall of GDP of up to 2.2% , he stressed.

He also pointed out that public investment in general will continue to decline during 2025, after having reached a peak in the middle of last year.

“We are still seeing fairly high interest rates. The medium-term growth prospects are modest, they are moderate, but fundamentally we have been seeing an environment of high growth since the second half of last year,” Arias said.

He said that this is due to the uncertainty caused by internal institutional deterioration, such as judicial reform , among investors.

In turn, Rodolfo Ostolaza , deputy director of Economic Studies at Banamex, stated that the most affected sector would be manufacturing , followed by construction , mining and the agri-food sector .

In the case of public construction, he pointed out that there was great productivity in that sector, “but the moment when the flagship projects began to be completed, construction certainly showed a slowdown,” he explained.

For her part, Guillermina Rodríguez , deputy director of Economic Studies at Banamex, said that by region, manufacturing has had less dynamism in the north of the country , as well as in the Bajío in 2024.

He commented that in the southeast there were significant declines in entities such as Tabasco and Campeche, “and we also saw declines in Coahuila in the third quarter of 2024 linked to manufacturing.”

He said that if Trump’s threats to impose tariffs are carried out, the northern regions of the country would be the main target.

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El cargo Banamex expects economic volatility due to Trump’s decisions apareció primero en T21.

Since Donald Trump became president of the United States and demonstrated his capabilities this past weekend with the possible imposition of 25% tariffs , Nydia Iglesias , director of Political Analysis at Banamex , considered that the negotiating elements that Mexico had to begin the process of revising the regional trade agreement , scheduled for 2026, have weakened.

In an interview with T21 , the specialist said that, in light of this, our country must assume its position, and pointed out that the threat of tariffs deteriorates Mexico in light of the review of the Treaty between Mexico, the United States and Canada (T-MEC) .

“Unfortunately, I believe that the threat this weekend by the President of the United States regarding the possibility of imposing tariffs on Mexico and Canada seriously undermines Mexico’s position in any eventual negotiation or revision of the treaty,” Iglesias stressed.

She said that the current US government would be willing to terminate the USMCA, since for her “that would represent the imposition of tariffs.”

“If the President of the United States is ready to end the regional treaty, then the positions of his partners, I am referring to Mexico and Canada, are substantially weakened when it comes to trying to find points of agreement regarding the possible adjustments that the northern neighbor could request to the current terms of the treaty,” he explained.

Iglesias indicated that on the other hand there is also the fact that even if there is no progress with tariffs for a very long period , Trump’s expectation of being able to establish negotiations not only with Mexico, but in other areas and with the rest of the world, from a position of asymmetrical strength, depends on his credibility to fulfill threats .

“It depends on the credibility of their ability to carry out their threats, and therefore, I believe that the countries that are most dependent on our relationship with the United States, such as Mexico, are their first target to signal that credibility,” he explained.

From his perspective, he considered that Mexico should take Trump’s threats “very seriously.”

“We must take the threats he makes to us very seriously because, even if they are for a short time, it is highly probable that he is willing to carry them out, even knowing that they damage not only the bilateral relationship but also very structural elements, both in terms of internal policy for the United States and the medium and long-term perspective of the regional relationship,” he concluded.

According to the Ministry of Economy , the T-MEC is the best business that the region has had, since, among other figures, it employs 17 million people at the regional level , generates approximately 3.1 million dollars (mdd) per minute and represents 30% of the world GDP .

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El cargo Trump’s tariffs undermine Mexico’s position in the face of USMCA review apareció primero en T21.