Weekly Report - 13.08.26

Weekly Report August 14th, 2026

Hot Topics U.S. TARGETS MEXICO OVER ALLEGED CHINESE TRANSSHIPMENT The United States presented a report on the global practice of transshipment, alleging that Chinese goods are increasingly routed through third countries to avoid U.S. tariffs.

The White House’s Office of Trade and Manufacturing identified Mexico, alongside Canada, the EU, India, Israel, Japan, South Korea and Taiwan, as a “diversified scaling leaders” group with significant volumes of China-linked goods and important export platforms to the United States. According to the report, illegal transshipment may involve routing Chinese products through a third country for light assembly, finishing, repackaging, relabeling, or changes to invoices and documentation without substantially transforming the goods’ origin. U.S. estimates place potential annual illegal transshipment between $40 billion and $303 billion, while the Commerce Department estimates approximately $67 billion in Chinese goods were transshipped through major hubs including Mexico, India and Vietnam during 2025.

The report specifically identifies the GuanajuatoQuerétaro corridor as a potential concentration point for operations involving electric motors, generators, transformers and static converters. However, the document does not claim that trade in these products from Mexico is inherently illegal and acknowledges that legitimate manufacturing and supply-chain shifts may explain part of the increase. The allegations are particularly relevant to the USMCA review, as Washington could push for stricter rules of origin and enforcement mechanisms to limit China-related circumvention.

Source: WHITE HOUSE, EL FINANCIERO

MEXICO INTENSIFIES EFFORTS TO ADDRESS TARIFFS AND TRADE BARRIERS Secretary of Economy, Marcelo Ebrard, said Mexico has presented the U.S. government with arguments seeking preferential treatment for Mexican automotive exports and challenging other potential tariff measures.

Mexico submitted a study to the U.S. Trade Representative (USTR) arguing that Mexicanmade vehicles should face a lower tariff than the current 25%,, arguing the integration of North American supply chains, particularly because Mexico imports more auto parts from the United States than from Asian countries. Separately, Mexico has challenged U.S. tariffs on steel and aluminum, arguing that they have contributed to a decline in Mexican steel exports while increasing Asian steel imports into the U.S. Mexico has also presented arguments against possible tariffs based on “excess capacity.”

Source: EL UNIVERSAL, W RADIO

U.S. INCREASES PRESSURE ON MEXICO WITH VISA RESTRICTIONS AND AVOCADO SUSPENSION The United States continues to strengthen its security engagement in Mexico, combining closer coordination with Mexican authorities with measures targeting individuals and activities considered relevant to U.S. security interests. In Michoacán, U.S. Ambassador Ronald Johnson announced the full resumption of U.S. government activities, incluing the export of avocados, after Mexican authorities implemented additional security measures and coordinated with U.S. officials. Johnson emphasized that the United States would continue monitoring security conditions and adjusting its activities as necessary.

Separately, the US revoked the visa of Andrés Manuel López Beltrán, son of former President Andrés Manuel López Obrador. López Beltrán criticized the decision in a letter to President Trump, alleging that Secretary of State Marco Rubio and Deputy Secretary Christopher Landau were behind the measure and describing it as politically motivated. No specific reason for the visa revocation was publicly detailed.

Source: MILENIO, EL PAÍS, MVS NOTICIAS

2

Hot Topics CUSTOMS REVENUE FALLS DESPITE STRONGER ENFORCEMENT

SHEINBAUM MET WITH GOLDMAN SACHS’ CEO TO DISCUSS INVESTMENT OPPORTUNITIES President Claudia Sheinbaum met with Goldman Sachs President and COO John E. Waldron at the National Palace to discuss investment opportunities in the country. According to Sheinbaum, the meeting focused on the favorable perception of Mexico among international markets and the investment opportunities offered

by Plan México.

The strategy seeks to boost domestic production, strengthen the internal market and attract public and private investment, with an emphasis on industrial development and job creation. The meeting also included Goldman Sachs’ team, although no specific investment commitments or projects were announced.

The encounter builds on previous engagement between Sheinbaum and Goldman Sachs. In August 2024, while president-elect, she met with representatives of the financial firm, who expressed a positive outlook on Mexico’s economic prospects and said they saw “a lot of future” for the country.

The meeting highlights the administration’s continued efforts to maintain dialogue with major international financial institutions and reinforce investor confidence. Goldman Sachs’ engagement is relevant as Mexico seeks to translate its nearshoring position and Plan México into additional investment in domestic production and industrial capacity.

Source: LA JORNADA

Mexico’s customs revenue declined around 10% year-on-year during the January-July period in real terms during the first seven months of 2026, despite the government’s efforts to strengthen customs enforcement following last year’s customs reform.

However, July marked the highest monthly collection level of the year, supported by increased customs enforcement and control.

ANAM attributed the monthly improvement to greater operational efficiency, a higher number of foreign trade operations and stronger measures to combat smuggling. Specialists noted that the overall decline cannot be attributed to a single factor. Following the customs reform, customs brokers have implemented stricter controls on importers, which may have contributed to lower import activity and, consequently, reduced tax collection. At the same time, uncertainty surrounding U.S. trade policy and the appreciation of the Mexican peso have also affected the value and composition of imports.

Source: EL ECONOMISTA, EL FINANCIERO

MEXICAN PESO STRENGTHENS AS APPROACHES 17 PESOS PER DOLLAR

IT

The Mexican peso strengthened against the U.S. dollar, approaching the 17-peso-per-dollar threshold for the first time since mid-2024. The move came after U.S. inflation moderated in line with market expectations, reinforcing expectations that the Federal Reserve may face less pressure to raise interest rates in September.

The peso’s appreciation reflects broader expectations of a less restrictive U.S. monetary policy, which can reduce demand for dollars and support emerging-market currencies. While a stronger peso can lower the domestic cost of imported goods and inputs, reducing the peso value of dollar-denominated imports; sustained appreciation could make Mexican products relatively more expensive abroad and reducing the competitiveness of export revenues.

Source: EL ECONOMISTA

3

Legislative and Regulatory Issues: LABOR

LABOR

Initiative Amending Various Provisions of the Federal Labor Law on Breastfeeding • Presented by: Chamber of Deputies – Deputy María De Jesús Rosete Sánchez (MORENA) • Objective: Require employers to provide dignified, accessible, hygienic, private, safe, and ventilated lactation spaces equipped for breast milk extraction and storage. For up to six months, breastfeeding employees would also be entitled to two daily 30-minute breaks or, when impracticable, a one-hour reduction in their working day, subject to employer agreement.

• Status: Published in the Parliamentary Gazette – August 12, 2026.

Initiative Enacting the General Law for the Prevention and Eradication of Time Poverty • Presented by: Chamber of Deputies – Deputy José Braña Mojica (PVEM) • Objective: Establish a framework to prevent and eradicate time poverty and guarantee the rights to chronobiological well-being, effective rest, digital disconnection, and personal time. It would require employers to respect workers’ digital disconnection, adopt internal policies with worker representatives, and sanction workplace harassment or systematic intrusion into employees’ rest periods.

• Status: Published in the Parliamentary Gazette – August 12, 2026.

Note: Mexico’s Congress is currently in recess; only the Permanent Commission of the Mexican Congress remains active. It is highly unlikely that another extraordinary period will take place.

4

www.prodensa.com contact@prodensa.com