U.S., Mexico, Canada are worlds apart for dairy farmers; here are the major differences and how the dairy industry works in each country

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10/18/19 – Milwaukee Journal Sentinel

By Rick Barrett

Wisconsin farmers are not alone in facing the dairy crisis. But farmers in Canada and Mexico — the nation’s two largest dairy trading partners — are experiencing global trade forces differently.

Operating in a protected system, dairy farmers in Canada benefit from stable milk prices. Those in Mexico, though, have struggled amid a wave of imports from the U.S. Here’s a look at the diary industry in the three countries.

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Mexico’s Senate aims to pass bills cutting bank fees by end-October: MORENA

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10/15/19 – Reuters

By Diego Oré

Mexico’s Senate aims to pass a first raft of bills to regulate fees for financial services by the end of October, said Ricardo Monreal, Senate leader of the ruling National Regeneration Movement (MORENA) party.

Last November, shortly before President Andres Manuel Lopez Obrador took office, MORENA lawmakers presented a bill to limit bank fees, sparking an investor backlash that pummeled the peso MXN=, Mexico’s S&P/BMV IPC stock index and banking shares.

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Trump election rhetoric could send Mexican peso down almost 9% to 21.30 per dollar -Banorte

 

peso10/09/19 – Reuters

By Noe Torres

The Mexican peso could fall almost 9% to 21.30 per dollar next year if U.S. President Donald Trump again threatens the country during his re-election campaign, Mexican financial group Banorte said on Tuesday.

Trump has repeatedly sent the Mexican currency and stock market tumbling after attacking Mexico over immigration and trade, mostly on Twitter, threatening to impose tariffs on Mexican goods or close the countries’ shared border.

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U.S. Democrats say Mexico must do more on labor after trip to speed up trade deal

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10/08/19 – Reuters

By Anthony Esposito, Andrea Shalal

The leader of a U.S. congressional delegation to Mexico said on Tuesday that Mexico must take more concrete steps to implement its labor reform, after a trip aimed at speeding up ratification of the new North American free trade deal.

Mexican President Andres Manuel Lopez Obrador has vowed union freedoms, higher wages and other labor rights in his bid to assuage the concerns of U.S. congressional Democrats, who hold the key to ratifying the United States-Mexico-Canada Agreement (USMCA).

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Trade War ‘Uncertainties’ Scramble Denim Sourcing Map

 

photo of blue denim textile
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10/08/19 – Sourcing Journal

By Arthur Friedman

Mexico has leapfrogged China as the top supplier of denim apparel to the U.S., according to new data from the Commerce Department’s Office of Textiles & Apparel (OTEXA), as the impact of the trade war with the U.S. caused major shifts in sourcing even before 10 percent tariffs on Chinese apparel went into effect on Sept. 1.

Imports of the blue denim apparel, 97 percent of which are jeans, from China fell 13.47 percent to a value of $517.78 million in the year to date through August compared to the same period in 2018, OTEXA reported. In the same period, jeans imports from Mexico increased 8.84 percent to $558.86 million.

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GM laying off another 415 workers in Mexico as U.S. strike continues

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10/07/19 – Reuters

By David Shepardsonm

General Motors Co (GM.N) said Monday it is temporarily laying off another 415 workers in Mexico as a strike by 48,000 U.S. hourly workers enters its fourth week.

GM said it had partially idled its Ramos Arizpe propulsion plant, with the V8 engine line and the CVT transmission line not operating. The plant continues to build engines for the Ramos assembly plant, which is still operating, but GM previously laid off 6,000 workers in Mexico at a separate facility in Silao, Mexico.

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America Movil says not negotiating with Telefonica, Telecom Italia over Oi

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10/07/19 – Reuters

By Ana Isabel Martinez

Mexican telecommunications firm America Movil is not negotiating with Spain’s Telefonica SA and Telecom Italia SpA about making a joint bid for assets of Brazilian telecoms firm Oi SA, a company spokesman said on Monday.

“Absolutely nothing has been negotiated,” Arturo Elias Ayub, America Movil’s director of communications said.

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Mexico’s Interjet close to buying 12 Airbus A220s: sources

 

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10/04/19 – Reuters

By Tim Hepher, Allison Lampert, Daina Beth Solomon

Mexican airline Interjet is close to a deal to buy 12 Airbus (AIR.PA) A220 passenger jets to replace its partly grounded fleet of Sukhoi Superjet regional aircraft, industry sources said.

Airbus, which already supplies larger A320-family jets to the airline, declined to comment.

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Despite Weak Growth, AMLO’s Mexico Still ‘Extremely Interesting’ For Wall Street

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10/03/19 – Forbes

By Kenneth Rapoza

Wealthy Mexicans might not like him. They’re putting money in the U.S. out of fear they’ll over tax them, or ruin their economy. But U.S. fund managers seem fine with Andres Manuel Lopez Obrador, aka AMLO. His politics might make them a little nervous, but Mexico’s central government keeps the stress levels to a minimum.

“Get me out of here? I do hear that. But Mexico is extremely interesting to us,” says Pedro Zevallos, a co-fund manager for Dalton Investments, 20 year old boutique private wealth management firm with $3.4 billion under management.

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Mexican manufacturing declines for fourth third straight month

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10/01/19 – Reuters

By Anthony Esposito

Activity in Mexico’s manufacturing sector contracted for a fourth straight month in September, a survey showed on Tuesday, on the back of deteriorating economic conditions, weak client confidence and soft demand.

The IHS Markit Mexico Manufacturing Purchasing Managers’ Index MXPMIM=ECI stood at 49.1 in September, barely higher than the 49.0 in August, which was the lowest reading in the survey’s nearly 8-1/2 year history.

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