Free Trial

US To Appeal On Alleged Labor Violations At Mine

MEXICO
  • As noted yesterday, the US is asking a panel to review a labor dispute at a mine in Mexico owned by billionaire German Larrea. For reference, the USTR had previously asked Mexico to review whether employees at a Grupo Mexico SAB mine in Zacatecas were being denied the right of free association and collective bargaining. After Mexico had a 45-day review period and found no denial of rights, the US is appealing that a panel reviews the situation.
    • This marks another episode of heightened tensions between the two countries, following the Corn Policy trade dispute headlines last week.
  • In local news, a bus carrying locals and migrants crashed in Mexico, killing 16. Reports suggest these were mostly Venezuelan migrants, who had an appointment with the U.S. Customs and Border Protection.
  • Late Tuesday, Citi published the results of its biweekly analysts’ survey. The survey still predicts the next rate move to be a 25bps cut in Dec 2023. Most notable developments included the upgrades for 2023 and 2024 GDP, raised to 2.90% and 1.6% respectively. Market focus this week is on bi-weekly CPI and Banxico minutes, both scheduled on Thursday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.