One of the main uncertainties was the impact that a 25% general tariff would have on Mexican auto parts. However, recent developments have temporarily alleviated this pressure. On May 2, Claudia Sheinbaum, Mexico's president, confirmed that the U.S. will keep tariffs on Mexican-made auto parts at zero, in line with the U.S.-Mexico-Canada Agreement (T-MEC).Marcelo Ebrard, Secretary of Economy,…
About 20 Lombardy companies in auto parts, industrial paints, and aerospace are exploring investments in Mexico City, Querétaro, and Guanajuato, despite concerns over Donald Trump's tariffs, according to Lorenzo Vianello, president of the Italian Chamber of Commerce in Mexico (CCIM). Italian firms have invested over $7.73 billion in Mexico in the past 18 years, including $3.3 billion in new…
The semiconductor industry is one of the key sectors for the government of President Claudia Sheinbaum. According to Plan Mexico, the goal for 2030 is to double the local supply in chip production and reach US$10 billion in investment, and the north of the country is a key area to achieve these goals.Initially, Plan Mexico considers the northern border area and the northwest of the country as two…
US President Donald Trump announced that tariffs on Canada and Mexico, which had been on hold for nearly a month, will be implemented on March 4, according to a Truth Social post on Thursday. He also revealed that an additional 10% tariff on Chinese imports will take effect the same day.The announcement followed a press briefing where Trump hinted at imposing 25% duties on vehicles and other…
According to the National Association of Plastics Industries (ANIPAC), the plastics industry in Mexico represented 3.14% of the manufacturing GDP in 2023, which reflects its economic relevance for the national industry.This industry maintains a high incidence in sectors such as auto parts, packaging and containers, which have maintained a constant growth in recent years, consolidating its…
The slowdown in the Mexican economy during the second half of the year has caused analysts and financial institutions to reduce their growth outlook.Among the international organizations, the World Bank stands out with the highest growth expectation for 2024; from 2.6% at the beginning of the year to 2.3% at present.On the other hand, the ECLAC (Economic Commission for Latin America and the…
According to the Jalisco Furniture Manufacturers Association (Afamjal), Mexico is a leading furniture exporter, ranking 5th in the furniture and mattress industry worldwide, surpassing countries such as the United States and Canada; in addition, the furniture industry is the sixth largest manufacturing export category in Mexico, which demonstrates its importance and competitiveness in the…
When a multinational seeks to set up a store in Mexico to expand its business to export to the United States, it also has to gauge the costs of the move.The most important thing for companies that decide to make large long-term investments in the country is the rule of law and the long-term visibility of the economic, political, and legal environment in Mexico, political transition and effective…
Foreign Direct Investment (FDI) arrivals to Mexico registered a 7.2% inter-annual growth, to 31.1 billion dollars in the first semester of 2024, informed the Ministry of Economy.Of this total, 30.288 billion dollars correspond to reinvestment of profits, 909 million dollars to new investments, and -101 million dollars to intercompany accounts.New investments refer to FDI flows associated with…
The Mexican Chamber of the Construction Industry (CMIC) expects the sector to grow between 3 and 5 percent by the end of this year, attributing a 1.6 percent expansion in the sector's investment to the economic phenomenon of nearshoring.About this factor, it is estimated that 40 percent of domestic construction companies have already benefited from this phenomenon.Other sectors with increases…