Goldman Sachs Says Bigger Surplus in Mexico May Win Over Traders

09/07/16 Bloomberg

luis videgarayBanks including Goldman Sachs Group Inc. and Bank of America Corp. say Mexico can do more to shore up its finances.

Mexico Finance Minister Luis Videgaray is scheduled to go to the lower house of Congress on Thursday to present the nation’s 2017 budget proposal. The plan may call for a so-called primary budget surplus that’s equal to about 0.2 percent of gross domestic product, based on a preliminary estimate from the government earlier this year. But Mexico may be more ambitious, says Goldman Sachs’s Alberto Ramos.

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Mexico: slower and lower

08/30/16 The Financial Times 

PenaNietoMexico, that most stable and reliable of emerging markets, may be sliding towards a credit rating downgrade. Last week S&P Global Ratings revised its outlook to negative from stable and warned it saw a one-in-three chance of a ratings cut in the next two years due to substandard growth and rising sovereign borrowings.

That caught up with Moody’s, which had lowered its own outlook back in March. And while Fitch, the third of the big three rating agencies, still sees Mexico’s rating as stable, it too warned in July of risks regarding the economy and fiscal consolidation.

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Mexico’s Carstens warns on protectionism

08/29/16 Financial Times 

Agustin_CarstensProtectionist trends in leading economies are threatening the world’s already laggardly growth potential, the head of Mexico’s central bank has warned.

Agustín Carstens, the governor of the Bank of Mexico, said that anti-globalisation demands were not confined to the US, where Donald Trump has been vowing to rip up trade deals, but were visible across a range of G20 countries.

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Wynne heads to Mexico to promote trade and cap-and-trade

08/28/2016 The Star

canadaWith all the Trump-fuelled talk of trade protectionism in the U.S. presidential election, Premier Kathleen Wynne is headed to Mexico to remind officials there that Ontario is wide open for business.

Wynne flies to Mexico City on Monday for meetings with Mexican political leaders, manufacturers, exporters, and potential investors.

“Mexico is our fourth-largest trading partner — $27 billion goes back and forth (annually) so it’s really important that we have that relationship,” the premier told the Star.

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Explaining Mexico’s Consumer Paradox

08/24/16 The Huffington Post 

Pesos by Flickr user AleiexThe disassociation between consumer confidence and consumer spending habits over the past two years has been one of the Mexico’s most interesting economic puzzles. The economy remains stuck in a three-year slowdown (GDP contracted in the second quarter by a sequential 0.3%), tighter fiscal and monetary conditions are in place as a result of low oil prices and a weak peso, and the string of corruption and impunity scandals surrounding the political class (and particularly the ruling PRI) appears to have no end in sight, even despite the passage of anti-corruption legislation.

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U.S.-Mexico Agricultural Trade: Opportunities for Making Free Trade Under NAFTA More Agile

08/22/2016 USDA Economic Research Service

us mex flagAs part of the North American Free Trade Agreement (NAFTA), Mexico and the United States gradually eliminated all tariffs and quotas governing bilateral agricultural trade during a 14-year transition period from January 1, 1994, to January 1, 2008. The same period saw growing cooperation between the two countries on sanitary, phytosanitary, and other regulatory issues affecting the agricultural and processed food sectors—a process that continues to this day. Together, this sweeping trade liberalization and ongoing regulatory cooperation made possible a dramatic increase in U.S.-Mexico agricultural trade.

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Sen. John McCain says he’ll support NAFTA, Arizona economy if re-elected

08/16/2016 KTAR News

NAFTAPHOENIX — U.S. Sen. John McCain (R-Ariz.) told a crowd on Tuesday that he would continue to support free trade agreements such as NAFTA should he be re-elected.

“If you don’t believe in trade agreements, then, fundamentally, either you think the agreement itself is unfair … or you don’t believe in the American worker,” McCain told the Greater Phoenix Chamber of Commerce.

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