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US, Mexico Agree to Extend Energy Talks

MEXICO
  • Biden’s White House administration is to extend consultations with Mexican representatives over AMLO’s energy policy. Yesterday marked the end of the initial time period scheduled for talks, but arbitration will be avoided as both parties opt for an extension (as per the 2020 USMCA agreement).
  • The talks follow accusations from both Canada and the US against Mexican policies that arguably discriminate against foreign firms operating in the country.
  • Further measures outlined by AMLO to cut basic goods costs yesterday include the banning of export for white corn and beans in order to tame cost rises at home. Finance Minister Ramirez stressed the government’s target to cut key goods prices by 8% through to February next year.
  • August leading indicator data deteriorated to new lows this morning, dropping to -0.29, the lowest since the pandemic in 2020.
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