Nearshoring in Mexico: A Lifetime Opportunity

On May 17, 2023May 17, 2023 By mexicoinstituteIn NAFTA, trade, USMCALeave a comment

Railway Age, 05/17/2023

“The thesis for investing in Mexico remains strong,” Ottensmeyer said as he began his NGTC talk. “Mexico has maintained Investment Grade ratings throughout the pandemic. With exception of early in the pandemic, the Peso exchange rate has remained stable for the past five years. Through August 2022, Mexico’s manufacturing sector has grown at three times the rate of GDP growth. The country’s manufacturing base is large and is well integrated into existing North American supply chains. Most trade disputes have been resolved in Mexico’s judicial system, and the Mexican Supreme Court has ruled in favor of investors in proposed changes in Electricity Law.”

Ottensmeyer referred to the ongoing U.S.-China trade war, in which the U.S. imposed trade tariffs on China in the first half of 2018. Since, then China has lost more than four percentage points of its share of U.S. imports.

AMLO responderá en septiembre a EU y Canadá sobre quejas por el T-MEC

On July 22, 2022 By mexicoinstituteIn NAFTALeave a comment

22/07/2022

Fuente: El Sol de México

El presidente Andrés Manuel López Obrador expresó que ya consultó a Jesús Seade sobre las demandas de Estados Unidos y Canadá contra de México por la presunta violación de su política energética al Tratado de Libre Comercio (T-MEC) y le aseguró que “no pasa nada” con dichas quejas.

Al abordar el asunto de las quejas presentadas en esta semana por los socios comerciales de Norteamérica para que se revise si México viola el T-MEC con su política energética al privilegiar a Pemex y CFE, López Obrador manifestó que: “No hay ninguna violación al tratado, que le quede la tranquilidad al pueblo de México, que no estamos incumpliendo ningún compromiso”, subrayó.

NAFTA Versus USMCA: Taxes, Tariffs, And Trade In North America

On January 23, 2020January 23, 2020 By mexicoinstituteIn Economy, NAFTA, North America, trade, Uncategorized, USMCALeave a comment

Source: Forbes, 01/22/2020

Concept of USMCA or the new NAFTA United States Mexico Canada ag

In this episode of Tax Notes Talk, Tax Notes contributing editor Robert Goulder discusses the decades-old North American Free Trade Agreement, the new U.S.-Mexico-Canada Agreement (USMCA), and what these agreements mean for the future of taxes, tariffs, and trade in North America.

Robert Goulder commented on the differences of the NAFTA and USMCA.

“They look a lot more like conventional legislation than they do a full-on treaty. The Senate Foreign Relations Committee, for example, is not going to have primary domain over this. It’s going to be the Senate Finance Committee. So, it looks like a treaty, and it feels like a treaty. But procedurally, it’s going to resemble just basic legislation.” Read more.

To learn more about the USMCA deal, visit the Mexico Institute’s NAFTA and USMCA Resource Page.

Court vacates 2017 amendments to U.S.-Mexico sugar trade pact

On October 23, 2019October 23, 2019 By mexicoinstituteIn Agriculture, Business and Competitiveness, NAFTA, tradeLeave a comment

bakery baking blur close up — Photo by Pixabay on Pexels.com

10/22/19 – Food Business News

By Ron Sterk

The U.S. Court of International Trade in New York on Oct. 18 vacated the 2017 amendments to the 2014 agreements that suspended sizable anti-dumping and countervailing duties on U.S. imports of sugar from Mexico. In both rulings (vacating the countervailing duty and the anti-dumping amendments), the court said, “The court concludes (1) that Commerce’s failure to follow the recordkeeping requirements of 1677f(a)(3) cannot be described as ‘harmless’ and (2) that the agency’s recordkeeping failure substantially prejudiced Plaintiff.”

The rulings leave the original 2014 “suspension agreements” in place, which had the refined/raw mix of sugar imports from Mexico at 53%/47%, the polarity for “other” sugar at 99.5 and reference prices for refined sugar at 26c a lb and for raw at 22.25c a lb. The 2017 amendments had adjusted the refined/raw import mix to 30%/70%, lowered the polarity for “other” sugar to 99.2 (thus 99.2 polarity and above was classified as refined sugar in the amendments), and raised the reference prices to 28c for refined and 23c for raw.

Mexico to begin ratification process for USMCA trade deal

On May 30, 2019 By mexicoinstituteIn Economic Integration, NAFTA, North America, trade, U.S.-Mexico Relations, USMCALeave a comment

5/30/2019 – Associated Press

Capture Mexico President Andrés Manuel López Obrador says his government is beginning the process of ratifying the new North American trade agreement.

He says the documents will be presented to the Mexican Senate on Thursday.

Canada takes a first step towards ratifying trade deal with U.S., Mexico

On May 28, 2019May 28, 2019 By mexicoinstituteIn Canada-Mexico relations, Economic Integration, NAFTA, North America, trade, U.S.-Mexico Relations, USMCALeave a comment

5/27/2019 – Reuters

By Kelsey Johnson and Steve Scherer

Capture Canada took a first step toward ratifying a new North American trade agreement on Monday just three days ahead of U.S. Vice President Mike Pence’s trip to Ottawa to discuss passage of the treaty.

Mexico sees good chance USMCA trade deal will be ratified

On May 23, 2019May 23, 2019 By mexicoinstituteIn Economic Integration, NAFTA, North America, trade, U.S.-Mexico Relations, USMCALeave a comment

5/22/2019 – Reuters

Capture Mexican Foreign Minister Marcelo Ebrard said on Wednesday he saw a “good chance” that the United States-Mexico-Canada Agreement (USMCA) trade pact would be ratified.

Mexico says it is close to U.S. metals tariff deal, waiting for Canada

On May 16, 2019May 16, 2019 By mexicoinstituteIn Economic Integration, NAFTA, North America, trade, U.S.-Mexico RelationsLeave a comment

5/15/2019 – Reuters

photo-1519213887655-a4f199e3015b By David Lawder and Alexandra Alper

Mexico is close to resolving its dispute with the United States over steel and aluminum tariffs without quotas but hopes Canada can reach a similar agreement before completing it, a senior Mexican official said on Wednesday. Jesus Seade, Mexican deputy foreign minister for North America, told Reuters by telephone that a deal to remove the so-called Section 232 tariffs was “very close” but he wanted Canada to be in the same position in its negotiations with Washington.

Pro-Trump Group Plans Tour to Build Support for NAFTA Rewrite

On May 9, 2019May 9, 2019 By mexicoinstituteIn NAFTA, North America, trade, USMCALeave a comment

5/9/219 – Bloomberg

800px-President_Trump_Participates_in_the_USMCA_Signing_Ceremony_(32244728588).jpg — Wikimedia Commons

By Jennifer Jacobs

A nonprofit group supporting Donald Trump plans to organize a tour of key electoral battleground states to try to build public support for the president’s re-write of the North America Free Trade Agreement.

The tour will begin in Jacksonville, Florida, on May 20 with an event featuring Vice President Mike Pence, said Brian Walsh, president of America First Policies, a nonprofit linked to a super-PAC that backs Trump. Such nonprofits aren’t required to disclose their donors and are sometimes described as “dark-money” groups.

Mexico says tariffs will send tomato prices soaring in US

On May 8, 2019 By mexicoinstituteIn Agriculture, NAFTA, North America, trade, USMCALeave a comment

5/8/2019 – The New York Times

By Associated Press

MEXICO CITY — Mexico’s Economy Department said Tuesday that U.S. consumers could pay 38% to 70% more for tomatoes after the U.S. Commerce Department announced it would re-impose anti-dumping duties on Mexican imports.

The Mexican agency said the country exports about $2 billion in tomatoes to the United States and supplies about half the tomatoes the U.S. consumes annually.

It said that many small- and medium-sized Mexican tomato exporters won’t be able to pay the deposits required to export. Tomatoes are Mexico’s largest agricultural export after beer and avocadoes, and tomato growing and harvesting provides about 400,000 jobs in Mexico.

But the deposits required to comply with the 17.5% U.S. tariff would amount to about $350 million, money that many Mexican producers don’t have.

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