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MEXICO: USMCA Review Remains Scheduled for 2026

MEXICO
EM BulletMexicoBulletEmerging Market NewsNorth America
  • We noted earlier that Mexico’s Deputy Economy Minister for Trade Luis Rosendo Gutierrez made comments following a meeting between officials in the White House on Wednesday. This was broadly expected following the agreement to setup working groups to discuss bilateral trade, security and migration.
  • The minister said the beginning of public consultations ahead of the USMCA review had been discussed. Importantly the review of the trade pact remains scheduled for 2026, dispelling any immediate concerns of an earlier renegotiation.
  • "For now, we have not yet started talking about tariffs," Gutierrez said. "We were very well received from all the economic areas and the idea is to start working next week with a permanent exchange of information."
  • Analysts have pointed out that so far business confidence has held up remarkably well in Mexico, but it could be expected to see a deterioration from February onward that may capture the 25% tariff noise more clearly, subject to how discussions between the administrations develop.
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  • We noted earlier that Mexico’s Deputy Economy Minister for Trade Luis Rosendo Gutierrez made comments following a meeting between officials in the White House on Wednesday. This was broadly expected following the agreement to setup working groups to discuss bilateral trade, security and migration.
  • The minister said the beginning of public consultations ahead of the USMCA review had been discussed. Importantly the review of the trade pact remains scheduled for 2026, dispelling any immediate concerns of an earlier renegotiation.
  • "For now, we have not yet started talking about tariffs," Gutierrez said. "We were very well received from all the economic areas and the idea is to start working next week with a permanent exchange of information."
  • Analysts have pointed out that so far business confidence has held up remarkably well in Mexico, but it could be expected to see a deterioration from February onward that may capture the 25% tariff noise more clearly, subject to how discussions between the administrations develop.