Mexico presidency hopeful eyes tax cuts to counter Trump reform

12/6/2017 Reuters

6732357797_64d2ba3cdc_mMONTERREY (Reuters) – A Mexican presidential hopeful and governor of a wealthy border state said he would cut taxes to compete with lower rates in the United States if President Donald Trump’s fiscal reform passes Congress, hinting at a broader potential response in Mexico.

“We’re going to compete,” he told Reuters on Monday. “If I make it and am able to be president, I would lower taxes,” he added, though he declined to give details.

Mexico’s government has been watching Trump’s fiscal plans closely, and some senior officials and lawmakers say the country may have to cut taxes if the United States does.

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In Mexico, they made a new American dream — minus their kids

12/1/2017 The Los Angeles Times 

460xThe home that American dollars built stands out among the dusty adobe farmhouses and crumbling concrete shacks on the edge of this rural Mexican town.

Visitors may wryly refer to it as a “hacienda” because of its grandiose touches — the elaborate wooden entryway, the curved staircase leading up to the front door — but with its red brick, pitched roof and garage sheltering a bright blue SUV, what it really looks like is a little bit of Texas. Athens, Texas. That’s where German and Gloria Almanza spent two decades toiling in factories and building, cleaning and repairing other people’s homes so that one day they could make a place of their own back in Mexico — a place to finish raising their two kids. When in 2012 the couple brought their children back to their hometown of Malinalco, a picturesque pueblo two hours southwest of Mexico City, they were not alone. Census data show more than 1 million Mexicans and their families left the U.S. for Mexico between 2009 and 2014, and fewer made their way north — a major demographic shift that is reshaping the immigration equation and having profound effects on both countries.

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Why Mexico Might Elect Its Own Populist to Face Trump

11/29/2017, The Washington Post via Bloomberg

mexican flagFor Mexico, the challenges mount. Poverty is rife. Corruption is the norm in daily life. Drug gangs have murdered more than 100,000 people in the last decade. And U.S. President Donald Trump is threatening to rip up the free trade agreement that’s shaped the country’s modern economy. Frustration over the state of affairs has led to growing signs that Mexicans are ready for change, a spirit that’s shaping the 2018 presidential election campaign.

Polls indicate an early favorite for the July 1 vote: Andres Manuel Lopez Obrador, the populist founder of the Morena party who’s run for president twice before. The 64-year-old former Mexico City mayor calls the political establishment a “mafia of power” and vows to use money lost to corruption to boost social welfare spending. Voters overwhelmingly disapprove of the current president, Enrique Peña Nieto of the Institutional Revolutionary Party, or PRI, who’s barred by the constitution from running again.

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U.S. Oil Owes Mexico Crude for Success as Tankers Ferry Both

11/29/2017 Bloomberg 

1280px-development-driller-2U.S. crude may owe supply from Mexico for helping it capture a share of the world’s biggest oil market this year. The total volume of U.S. and Mexican crude that were loaded into a single ship for export has surged more than fivefold to 11.8 million barrels so far this year, from 2.1 million barrels in 2016, data from vessel-tracking and intelligence company Kpler show. All the cargoes sailed to Asia, according to shipping information on Bloomberg.While some Asian buyers prefer purchasing crude from the Americas on very large crude carriers with capacity of about 2 million barrels, most export terminals in the U.S. don’t boast infrastructure that can accommodate a fully-laden big tanker. To circumvent the problem, a VLCC is partially loaded in a Gulf Coast port after which it goes to Mexico to fill up before sailing east. Alternatively, smaller vessels can pick up supplies and transfer them at open seas into a VLCC.

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NAFTA unlikely to hurt Mexico-U.S. security ties, but election might

11/15/2017 Reuters

la-fg-tijuana-journalists-violence-photos-005MEXICO CITY (Reuters) – Mexico’s threats to weaken U.S. narcotics and migration co-operation if NAFTA dies are pure bluster, Mexican and U.S. officials say, with next year’s election posing a far greater challenge to future collaboration.

Mexican officials have threatened to strike back if U.S. President Donald Trump kills the North American Free Trade Agreement (NAFTA), warning they could relax controls on the southern Mexican border crossed by Central American migrants, or scale back collaboration in tackling drug crime.

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NADBank merges with sister Mexico institution

11/9/2017 San Antonio Express 

us mex flagThe board of the San Antonio-based North American Development Bank and its sister organization in Ciudad Juárez, Mexico granted final approval Thursday to merge the two institutions, a three-year process that takes effect Friday.

The combined organization will keep the NADBank name while dissolving the Border Environment Cooperation Commission, the NADBank announced Thursday. The Mexico office will operate as the NADBank Juárez office, NADBank spokesman Jesse Hereford said Thursday.

The functions will remain similar, with the Ciudad Juárez staff continuing to evaluate and certify border environmental projects for financing by the NADBank.

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Mexico Says Bad Nafta Outcome Could Hurt Cooperation With U.S. on Security

11/11/2017 Bloomberg

USA and Mexico
ER4R2M USA and Mexico

If the renegotiation of the North American Free Trade Agreement encounters trouble, it could impact other areas of cooperation with the U.S. such as security and immigration, according to Mexican Foreign Minister Luis Videgaray. “It’s good for Mexico that we cooperate with the U.S. on security and also on migration and many other issues,” Videgaray said in an interview Saturday on the sidelines of the Asia-Pacific Economic Cooperation summit in Vietnam. “But it’s a fact of life and there is a political reality that a bad outcome on Nafta will have some impact on that,” he said. “We don’t want that to happen and we’re working hard to get to a good outcome.”

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