Mexico

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...

June 3, 2024 11:19 PM

Claudia Sheinbaum elected as Mexico’s first woman President

Climate scientist and former mayor of Mexico City, Claudia Sheinbaum, has been elected as the first woman to be elected as President of Mexico. She will also be the first Jewish leader of Jewish heritage to hold the office, Politico reported. Sheinbaum (61) received nearly 58 per cent of the vote, according to preliminary results from the Mexican electoral office. Sheinbaum's opposition candidate Xochitl Galvez, backed by a coalition of the National Action (PAN), Institutional Revolutionary (P...

June 3, 2024 1:32 PM

Claudia Sheinbaum wins landslide to become Mexico’s first woman president

Claudia Sheinbaum won a landslide victory to become Mexico's first female president, inheriting the project of her mentor and outgoing leader Andres Manuel Lopez Obrador whose popularity among the poor helped drive her triumph. Sheinbaum, a climate scientist and former mayor of Mexico City, won the presidency with between 58.3% and 60.7% of the vote, according to a rapid sample count by Mexico's electoral authority. That is set to be the highest vote percentage in Mexico's democratic history. ...

May 15, 2024 3:20 PM

Biden’s new China tariff wall faces leakage via Mexico, Vietnam

The Biden administration's new tariffs on Chinese electric vehicles and other strategic sectors aim to protect the future of U.S. manufacturing, but they will likely accelerate a shift of Chinese production to Mexico, Vietnam and elsewhere to avoid them. U.S. officials and trade experts say that without strong efforts to cut off transshipped or lightly processed Chinese goods from Mexico and other countries, China's underpriced excess production will still find its way into U.S. markets. "The ...

May 4, 2024 2:24 PM

US lawmaker Cuellar hit with bribery charges tied to Azerbaijan, Mexican bank

U.S. Representative Henry Cuellar and his wife were indicted for allegedly accepting close to $600,000 in bribes in two schemes meant to benefit an Azerbaijani state-owned energy company and an unnamed bank based in Mexico, court papers showed. The federal indictment, returned by a grand jury in Texas on Tuesday and unsealed on Friday, said the bribes were laundered through sham consulting contracts into shell companies owned by Imelda Cuellar, the Democratic congressman's wife, from December 2...