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August 1-8, 2025

Hot Topics

MEXICO–CANADAFREETRADEAGREEMENT DISMISSEDBYPRESIDENTSHEINBAUM

President Claudia Sheinbaum ruled out a bilateral trade deal with Canada, emphasizing that existing multilateral agreements like the USMCA already govern Mexico Canada relations Her comments come amid closer diplomatic contact between both nations, following new US tariffs imposed by Donald Trump. Despite Canadian interest in deeper ties, Sheinbaum reaffirmed Mexico’s commitment to the trilateral agreement. The timing is critical, as the USMCA’s five-year review is already scheduled. Mexico’s refusal to pursue a bilateral deal could weaken its negotiating leverage and limit options if US trade pressure intensifies It also raises concerns about North American unity, just as business leaders push for a trilateral summit at the upcoming G7 to address mounting regional trade tensions.

Source: El Economist

SEMICONDUCTORTARIFFS ANNOUNCED THIS WEEK

President Donald Trump announced a 100% tariff on imported semiconductors, aiming to push companies to relocate chip manufacturing to the US firms like Apple are expected to be exempt due to existing or planned US facilities. The move is part of a broader industrial policy to reduce dependency on foreign technology and strengthen domestic production However, this aggressive measure may hit countries like the Philippines and Malaysia hard, with industry leaders warning of severe consequences Also, Mexican tech exporters could face uncertainty, especially if they rely on global chip supply chains or have yet to establish US production.

Furthermore, while the semiconductor tariff captured headlines, other tariffs also came into effect, targeting goods from dozens of countries. Though Mexico avoided the 30% IEEPA tariffs for 90 days after negotiations with the US, its longterm standing depends on resolving non-trade barriers that hurt compliance with the USMCA This includes issues in agriculture, energy, digital services, and intellectual property, areas likely to shape future trade talks and reviews of the USMCA.

Source: Reuters

REVIEW OF THE ENVIRONMENTAL CHAPTER OF THE USMCA

The SEMARNAT announced this week that on June 17, Mexico, the US, and Canada held a high-level meeting to review the implementation of the USMCA’s Environment Chapter, as part of its scheduled five year review Mexico showcased progress in biodiversity conservation, air quality, and ozone protection, reaffirming its commitment to environmental obligations The meeting highlighted the region’s shared environmental challenges and emphasized the importance of cooperation As the USMCA will be reviewed, this trilateral dialogue sets the tone for future negotiations, where sustainability may become central themes

Source: Gobierno de México

Hot Topics

PEMEXGETSANEWSTRATEGICPLAN

Mexican President Claudia Sheinbaum presented a long-term plan to make Pemex financially selfsufficient by 2027, ending its reliance on government aid The strategy includes reducing Pemex’s debt to $77 3 billion peso by 2030, implementing a new tax system, and creating a 250 billion pesos investment fund for productive projects. Short-term support will continue in 2025–2026 to manage debt payments. Pemex will focus on refining fuel domestically, developing Gulf oil fields, boosting gas production, and reviving petrochemical plants. Infrastructure projects include new pipelines and cogeneration plants to cut emissions. The plan, developed with multiple government agencies, aims to secure Pemex’s financial viability, energy sovereignty, and environmental responsibility over the next decade

Source: Reforma

PESO GAINS VALUE AGAINS THE DOLLAR AMID EMPLOYMENT US SHORTAGE

The Mexican peso is gaining strength against the US dollar due to weak labor data from the United States. Fewer jobs were created than expected, and previous figures were revised downward, showing a clear slowdown in the S. job market. This has increased expectations that the Federal Reserve will cut interest rates soon, making the dollar less attractive As a result, the peso appreciated by 0 36% at the start of the session, trading around 18 81 pesos per dollar

Source: Real Estate Market

AT&T TO LEAVE MEXICO

After a decade in Mexico, AT&T plans to exit the market, seeking over $2 billion USD for its local operations. Despite investing more than $10 billion since 2014, acquiring Iusacell and Nextel, the company failed to challenge Telcel's dominance, which holds over 60% of market Regulatory battles, including disputes with América Móvil, and persistent market concentration have hurt AT&T’s growth. The company has already sold its stake in Sky México and is now shifting focus to its US operations, investing in fiber optics and bundled services. AT&T's departure mirrors other foreign retreats, like Telefónica’s reduced presence in Mexico.

Source: El Economista

NEW HEAD OF THE UIF

Omar Reyes, a security expert close to García Harfuch, has been appointed head of Mexico’s Financial Intelligence Unit (UIF) to strengthen the fight against drug money laundering. His nomination signals a shift toward a more technical, less politicized leadership, and responds to U S pressure for concrete results in financial crime enforcement

Source: El País

Legislativeand RegulatoryIssues:

TRADE

Initiative With Draft Decree To Reform And Add Various Provisions To The Federal Consumer Protection Law

Presented by: Dip. Ivonne Aracelly Ortega Pacheco (PlurMC)

Objective: Defines “influencer” in law and establishes advertising transparency rules for digital content.