VOLTAR

1. Sheinbaum and Trump confirm trade agreement to avoid tariffs

President Claudia Sheinbaum had a call with President Donald Trump in which they agreed to a 90-day postponement of the tariffs that Trump announced last month. The call was attended by the Secretary of Economy, Secretary of Finance, Secretary of Security, and Foreign Ministry. Secretary of Economy Marcelo Ebrard highlighted that “it was a splendid result… everything was achieved without any other concessions on the part of the government.” He also emphasized that Mexico secured a privileged position in the renegotiation of the USMCA.

Although the Mexican government secured a 90-day extension to avoid the imposition of new 30% tariffs on its exports, certain domestic products already face tariff measures by the United States and will continue under that scheme during the negotiation period, including: silk, tobacco, iron or steel articles, iron and steel, aluminum and its manufactures, textile fibers, vehicles such as automobiles and tractors, aircraft, various food preparations, special fabrics, and carpets. Similarly, a few weeks ago, the US Department of Commerce applied a 17.09% tariff on tomatoes in most imports, after ending the 2019 Suspension Agreement and imposing anti-dumping measures.

El Financiero: Sheinbaum da detalles de acuerdo para evitar arancel de 30%: ‘Trump nos trata con respeto’ 

2. Mexican economy avoids technical recession and IMF revises its forecast for 2025

The International Monetary Fund reviewed its economic growth estimate for Mexico in 2025, from a contraction of -0.3% to a moderate growth of 0.2%. President Claudia Sheinbaum welcomed this upward correction as a recognition of the strength of the national economic model, highlighting that, despite external challenges such as US tariff policy, the Mexican economy is showing stability. In her message, she also stressed that development should be measured beyond GDP, incorporating factors such as income distribution and social welfare.

INEGI data for the second quarter of 2025 supports moderate optimism: GDP grew 0.7% compared to the previous quarter and 1.2% year-on year, avoiding a technical recession. This growth was mainly driven by the services sector, while the primary sector fell in the quarter, although it maintained annual growth. However, analysts point out that risks remain for the second half of the year, such as weakness in fixed investment and trade tensions with the US, suggesting that, although a negative scenario has been avoided, the economic outlook still requires caution.

El Economista: Sheinbaum celebra corrección del FMI sobre crecimiento de la economía mexicana

El Financiero: Mejor de lo que se esperaba: Economía de México crece 0.7% en segundo trimestre

3. Inequality in Mexico at its lowest level

Mexico ended 2024 with the lowest income inequality since records began in 1984. The average household income reached 77,864 pesos per quarter at the end of 2024 (25,955 pesos per month), according to the 2024 National Household Income and Expenditure Survey (ENIGH). Overall, two-thirds of Mexican families’ income (67.7 percent) comes from their wages, and 17.7 percent from transfers, such as social programs and remittances.

ENIGH 2024 reveals an improvement in income distribution in Mexico, recording the lowest Gini coefficient since records began (0.391), indicating a reduction in inequality compared to previous years. Although large gaps remain, especially between genders and regions, the income of the poorest 10% grew by 35.89%, between 2018 and 2024. The entities with the highest incomes were Nuevo León, Mexico City, and Baja California Sur, and the lowest were Chiapas, Guerrero, and Oaxaca. In addition, income from paid work grew by 13.8% and income from social programs increased by 101% since 2016. In terms of spending, households allocate 37.7% to food and have increased their spending on health by 41.16% since 2018, while spending on education and recreation fell by 12.36%.

La Jornada: Desigualdad en México, en su nivel histórico más bajo: Inegi

4. Secretary of Health reports progress in purchasing supplies

The Ministry of Health (Ssa) reported that, as of July 30, a total of 4.073 billion items required for the 2025-2026 period had been purchased, representing 96% of the established target. The Ssa highlighted the significant increase in the receipt of medicines during June and July.

In the case of the Mexican Social Security Institute (IMSS), it reported that 200 million items had been received, compared to 59 million in May, representing a 40% increase in the monthly average. IMSS Bienestar, for its part, received 24 million items, which was 80% more than in May. For its part, the IMSS reported that it now has a supply level of 96%, while the Institute for Social Security and Services for State Workers (ISSSTE) has a supply level of 94%. The latter institution indicated that it has received 30 million items, a 200% increase compared to the 5 million received in May.

La Jornada: Avance en adquisición de medicamentos alcanza un cumplimiento del 96 por ciento: SSa 

5. Mexico raises tax on purchases from Chinese platforms from 19% to 33.5%

Starting August 15, Mexico will increase the minimum global tax rate applicable to low-value packages from countries without trade agreements, such as China, from 19% to 33.5%. This measure will directly impact e-commerce platforms such as Shein, Temu, and AliExpress, whose products often arrive in the country through the simplified parcel regime. The objective, according to the Ministry of Finance, is to ensure fair treatment for domestic trade, combat unfair competition, and prevent abuse of the tax exemption threshold known as “de minimis.”

The measure will apply to products valued at less than US$50, an amount that is currently exempt from tariffs if it comes from countries with which Mexico has agreements, such as the United States or Canada. The new tax seeks to reduce the incentive to import from countries without agreements and encourage foreign platforms to establish operations or warehouses in Mexico, as other companies have already done. The Ministry of Finance noted that this decision is also in line with international recommendations and similar practices adopted by other countries.

El Economista: México aumenta de 19 a 33.5% el impuesto mínimo global a plataformas chinas como Shein y Temu