Mexico

February 12, 2025 12:59 AM

EU, Canada and Mexico condemn Trump move to hike steel and aluminium tariffs

Mexico, Canada and the European Union on Tuesday condemned U.S. President Donald Trump's decision to impose tariffs on all steel and aluminium imports next month, a move that has fanned fears of a trade war. Trump signed proclamations late on Monday raising the U.S. tariff rate on aluminium to 25% from his previous 10% rate and eliminating country exceptions and quota deals as well as hundreds of thousands of product-specific tariff exclusions for both metals. The measures, due to take effect ...

February 4, 2025 8:46 AM

Trump pauses tariffs on Mexico and Canada, but not China

U.S. President Donald Trump suspended his threat of steep tariffs on Mexico and Canada on Monday, agreeing to a 30-day pause in return for concessions on border and crime enforcement with the two neighboring countries. U.S. tariffs on China are still due to take effect within hours. Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in response to Trump's demand to crack down on immigration and drug s...

February 3, 2025 11:20 AM

Trump says Americans may feel ‘pain’ in trade war with Mexico, Canada, China

President Donald Trump said the sweeping tariffs that he has imposed on Mexico, Canada and China may cause "short term" pain for Americans as global markets reflected concerns the levies could undermine growth and reignite inflation. Trump said he would talk on Monday with the leaders of Canada and Mexico, which have announced retaliatory tariffs of their own, but downplayed expectations that they would change his mind. "I don't expect anything dramatic," Trump told reporters as he retu...

A man stands in front of a live view of the Nikkei 225 index. Photo by Stanislav Kogiku/SOPA Images/LightRocket via Getty Images/Files

February 3, 2025 9:02 AM

Asian stocks slump, dollar soars as Trump tariffs trigger trade war fear

Asian stock markets slumped on Monday and U.S. equity futures pointed sharply lower after U.S. President Donald Trump's tariffs on Canada, Mexico and China triggered fears of a broad trade war and hit to global growth. The U.S. dollar shot to a record peak against the Chinese yuan in offshore trading, and its highest against Canada's currency since 2003 and the strongest against the Mexican peso since 2022. Japan's Nikkei share average tumbled as much as 2.3% in early trading, and Australia'...

November 27, 2024 9:51 AM

Trump tariffs would harm all involved, US trade partners say

Officials from Mexico, Canada and China and major industry groups warned that U.S. President-elect Donald Trump's threat of hefty tariffs on goods would harm the economies of all involved, cause inflation to spike and damage job markets. Trump's pledge announced on Monday roiled currency, bond and equity markets on Tuesday, as the three countries are the United States' largest trading partners. Mexico and Canada are particularly intertwined in U.S. auto production and energy output thanks to de...

October 18, 2024 9:18 AM

Mexico: Finance Minister Sitharaman chairs Tech Leaders Roundtable in Guadalajara

Union Finance Minister Nirmala Sitharaman chaired Tech Leaders Roundtable at the Chamber of Commerce in Mexico's Guadalajara and held discussions on 'Strengthening Technological Cooperation between India and Mexico.' The roundtable on Thursday was organised by the Mexican Association of the Information Technology Industry and Tata Consulting Services in collaboration with the Embassy of India in Mexico and Department of Economic Affairs. According to Ministry of Finance, the meeting was aimed ...

September 17, 2024 11:28 AM

In a world-first, Mexico to elect its judges

Last week Mexico approved a sweeping judicial reform. It allowed election of judges at all levels – from the lower courts, right up, to the top court of the land. In one fell swoop, outgoing President Andres Manuel Lopez Obrador, helped in no small measure by his protege and President-elect Claudia Sheinbaum, quite literally, upended the country’s judicial system. Now, it was all done Constitutionally. First, the lower chamber of the legislature voted 359 to 135 to pass the legislation. Nex...

July 26, 2024 11:02 AM

US arrests top leaders of Mexico’s Sinaloa drug cartel

Mexican drug kingpin Ismael "El Mayo" Zambada and the son of his ex-partner, Joaquin "El Chapo" Guzman, were arrested on Thursday in El Paso, Texas, in a major coup for U.S. authorities that may also reshape the Mexican criminal landscape. Zambada is one of the most consequential traffickers in Mexico's history and co-founded the Sinaloa Cartel with El Chapo, who was extradited to the United States in 2017 and is serving a life sentence in a maximum security prison. Both Zambada and Joaquin G...

July 4, 2024 12:04 PM

Hurricane Beryl strikes Jamaica as Caymans, Mexico brace for storm’s impact

Hurricane Beryl thrashed Jamaica with heavy winds and rain on Wednesday, killing at least one person after forging a destructive, water-soaked path across smaller Caribbean islands over the past couple days. The death toll from the powerful Category 4 hurricane climbed to at least 10, but it is widely expected to rise further as communications come back online across drenched islands damaged by flooding and deadly winds. In Jamaica, Beryl's eyewall skirted the island's southern coast, pummelin...

June 9, 2024 1:31 PM

Mass fish death in Mexico’s Chihuahua State blamed on severe drought

Thousands of dead fish have blanketed the surface of a lagoon in Mexico's northern state of Chihuahua, and local officials are blaming an intense drought. The fish deaths at the Bustillos Lagoon, by the town of Anahuac in Chihuahua, came during long dry spells as temperatures have climbed above 40 degrees Celsius (104 degrees Fahrenheit). The lagoon's water levels are dangerously low, officials said. Some form of drought is afflicting nearly 90% of Mexico, the highest rate since 2011, accordin...