Citrus exports soar 28% in first seven months of the year

09/07/2021

Source: Mexico News Daily

The export of citrus fruits shot up 28.3% in the first seven months of the year in annual terms.

The value of those exports was US $912.3 million, compared to US $711 million over the same period in 2020.

Mexico is the world’s second largest exporter of lemon, with 17.7% of the value of world sales, and the fourth largest exporter of grapefruit. However, the agricultural sector commits the largest growing area of any citrus fruit to oranges.

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Mexico’s agrifood exports highest in 29 years between January and May

07/20/2021

Source: Mexico News Daily

The value of Mexico’s agrifood exports in the first five months of the year was the highest in 29 years, the Agriculture Ministry said. Agrifood products destined for foreign shores brought in US $18.7 billion from January through May, and imports were just under $14.5 billion for a surplus of $4.23 billion, the fourth highest in 27 years.

Of the $33.2 billion agrifood trade with foreign countries, 56.4% was money entering the economy: more than earnings from petroleum exports or foreign tourism.

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Mexico leader decries beer, milk production in arid areas

03/28/2021

Source: AP News

MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador is railing against the production of beer and milk in areas where there isn’t enough water.

López Obrador cancelled plans for a huge brewery on Mexico’s northern border last year, and on Sunday he questioned the whole idea of producing beer for export.

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Mexico’s auto production and exports drop sharply, battered by Ford

aerial view of parking lot
Photo by KML on Pexels.com

11/06/19 – Reuters

By Julia Love and Sharay Angulo

Mexico’s auto production and exports fell sharply in October compared with the same month last year as production from U.S. automaker Ford Motor Co ground to a halt, according to data from the national statistics agency INEGI.

Auto production declined 16.35%, while exports dropped 19.52%, the data showed.

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Mexican manufacturing declines for fourth third straight month

man welding round window frame
Photo by Екатерина Александрова on Pexels.com

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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GM lays off 6,000 additional workers in Mexico due to UAW strike

 

aerial view of parking lot
Photo by KML on Pexels.com

10/01/19 – CNBC

By Michael Wayland

General Motors on Tuesday idled a plant in Mexico that produces its highly-profitable Chevrolet Silverado and GMC Sierra 1500 pickups, temporarily laying off 6,000 workers.

The automaker said the decision was a result of a parts shortage due to the United Auto Workers union’s strike against GM, now in its 16th day. A GM spokesman said the “primary focus is to get a deal and get everybody back to work” as soon as possible.

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Secretary Ross and the Commerce Department Wrongly Conclude NAFTA Rules are Bad for the U.S.

10/4/2017 Forbes

Flag_of_the_North_American_Free_Trade_Agreement_(standard_version).svgBy Luis de la Calle

U.S. Secretary of Commerce Wilbur Ross published an important op-ed (These NAFTA rules are killing our jobs) in the Washington Post this past Friday, September 22nd.  In it, he claims to offer a serious analysis to show that the trade deficit with Mexico and Canada and lower U.S. value-added in Mexican and Canadian U.S. imports are proof the United States is losing under the North American Free Trade Agreement (NAFTA).  Secretary Ross aims to end the “loose talk” about industrial integration for automobile production in the region.

The problem with the article and the U.S. Department of Commerce paper it is based on is that they cherry pick statistics out of the March 2017, Trade in Value-Added (TiVA) database by the Organization for Economic Cooperation and Development (OECD), in an attempt to confirm the Trump’s administration bias that trade deficits are bad and lead to job losses.  This wrongheaded approach (the trade deficit with Mexico does not harm the United States) does a growing disservice to the comprehension of the importance of international trade for the economy and further politicizes the issue. More worryingly, it shows civil service officers can be influenced so that their analysis comports with White House views on trade.

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Why Leaving NAFTA Would Hurt Tennessee

12/15/2016 The Tennessean

By Mexico Institute Advisory Board Member Lawrence Harrington

flags 3 countriesOpposition to the North American Free Trade Agreement with Mexico was a cornerstone of Donald Trump’s campaign.

Canceling NAFTA and imposing tariffs on Mexican imports is one of the few actions President Trump can take without congressional approval.  Under the agreement he only needs to give Mexico six months’ notice to cancel the agreement. Using emergency powers, the president could then in all likelihood impose tariffs on Mexican imports. Trump mentioned a 35 percent tariff on certain Mexican goods during the campaign.

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A Victim of Trump (and Fundamentals), the Peso Falls

11/14/2016 Forbes.com, Mexico Institute Blog

By Viridiana Rios, Global Fellow, Mexico Institute

pesoI write today as a middle class Mexican whose savings lost 10 percent of their value when American voters elected a leader who pledged to renegotiate NAFTA and tax us to pay for a wall. As a result of the election and other factors, the Mexican peso has overtaken the Argentine peso and the South African Rand to become the emerging markets 2016 worst performer.

The Mexican Peso was a barometer for the presidential campaign. It lost 10 percent of its value when Clinton lost, 1.9 percent in the week after the FBI reignited Clinton’s email controversy, and hit its historical low in the days following the election as speculation turned to the potential impact of Trump’s first months in office. The peso spiked 1.3 percent in less than an hour during the first presidential debate, and when Trump’s lewd conversation about women broke, it gained 2.2 percent.

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The Case for Partnering with Mexico

11/7/2016 The National Interest

By Public Policy Fellow Ambassador Earl Anthony Wayne

mexican flagMexico has been a punching bag in the United States election campaign this year. Rather than hitting our neighbor with insults and threats, however, we should be cementing partnership with Mexico to strengthen our economy and security. The American public has been fed misleading explanations, factual distortions, and bad solutions. A number of the proposed actions regarding Mexico would harm the United States rather than address the challenges we face in creating good jobs, making our economy more competitive, and enhancing border security.

U.S. trade with Mexico supports a net 4.9 million American manufacturing and service jobs spread widely across the United States, according to the Woodrow Wilson Center’s Mexico Institute. Those jobs exist because, under NAFTA, Mexico has become the second largest purchaser of U.S. exports in the world, with Canada being the largest. We trade over a million dollars a minute with Mexico, and the breadth of U.S.-Mexican cooperation is unprecedented, covering trade, public security, immigration, energy, the environment, international affairs, and much more.

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Read our paper “How Trade in Mexico Impacts Employment in the United States”

Check out our project “Growing Together: Economic Ties between the United States and Mexico”