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1. The US explores bilateral agreements for USMCA negotiations

Jamieson Greer, US Trade Representative, indicated that the Office of the US Trade Representative (USTR) is evaluating possible breaches of the free trade agreement between Mexico, the United States, and Canada (USMCA) by Mexico, especially in areas such as intellectual property, access to energy, insecurity, corruption, and uncertain regulatory frameworks. These concerns are reflected in the report “Investment Climate in Mexico 2025,” which points to the lack of legal action against trademark counterfeiting and copyright piracy in Mexico during 2024. In addition, U.S. business leaders have expressed reservations about Mexico’s 2024 judicial reform, which replaced half of the judges through elections, which could affect the predictability of the legal environment for foreign investors.

In response, Mexico and Canada have agreed to maintain a trilateral approach in the USMCA negotiations to strengthen North America’s competitiveness. Mexico’s Secretary of Economy, Marcelo Ebrard, acknowledged that some parts of the agreement are inherently bilateral, but stressed that other aspects, such as the dispute settlement mechanism, remain trilateral. For his part, Canadian Prime Minister Mark Carney emphasized the importance of direct cooperation between the three countries, stressing that the USMCA is the strength of the whole and contributes to the competitiveness of the region. Despite the tensions, both governments are seeking to avoid a repeat of the 2018 negotiations, when the United States dealt separately with Mexico and Canada, which led to tensions and accusations of a lack of transparency.

El País: Estados Unidos dice que “probablemente” negociará bilateralmente el TMEC con México y Canadá

2. Mexican government presents Plan Mexico at World Economic Forum

President Claudia Sheinbaum presented Plan Mexico to business leaders from 17 member countries of the World Economic Forum. Plan Mexico is a comprehensive strategy that seeks to strengthen the domestic market and wages, as well as boost public and private investment in the country. This plan focuses on increasing food and energy sovereignty, boosting domestic production, and reducing imports from nations with which Mexico does not have trade agreements, with the aim of consolidating more autonomous and sustainable economic development. The presentation took place at the National Palace, at an event that brought together around 60 business leaders and reflects the government’s intention to align the economic agenda with global challenges and investment opportunities, highlighting Mexico’s importance as a strategic player in the international economy.

Among the main objectives and actions of Plan Mexico, Sheinbaum highlighted the expansion of rail, port, and airport infrastructure, as well as the generation of 26,000 megawatts through the Federal Electricity Commission and the development of 158 electricity transmission projects. In addition, Petróleos Mexicanos is projected to reach a production of 1.8 million barrels per day, while 1.7 million homes are planned to be built over a six-year period. The plan also includes the launch of the “Mexico, Country of Innovation” project, which envisages the creation of a National Artificial Intelligence Laboratory, support for small and medium-sized enterprises, and the strengthening of scientific and technical training, thus reinforcing the government’s commitment to innovation and technological development in the country.

Gobierno de México: Presidenta Claudia Sheinbaum presenta Plan México a miembros del Foro Económico Mundial

3. Citi rejects offer from Grupo México

Citigroup, the world’s largest financial services company, rejected Grupo México’s offer to acquire 100% of Banamex, a proposal that contemplated purchasing 25% of the bank at a multiple of 0.85 times its book value and the remaining 75% at 0.80 times. After carefully evaluating the offer, including financial aspects and operational certainty, Citi decided to stick to its original plan: to sell 25% of Banamex to Mexican businessman Fernando Chico Pardo and conduct an Initial Public Offering (IPO) for the remaining shares. This strategy will allow for the responsible completion of the divestiture of Banamex and maximize value for shareholders.

Fernando Chico Pardo will acquire 25% of Banamex at a fixed price of 0.80 times its book value, implying a total estimated consideration of 42 billion pesos. Once the transaction is closed, Chico Pardo is expected to be appointed chairman of the bank’s board of directors. The businessman has expressed his intention to retain only 25% of the shares and has outlined strategic goals that include prioritizing investment in technological transformation, focusing on the customer, accelerating credit placement, and accelerating the process of divestiture from Citigroup, with the aim of returning Banamex to Mexican hands. The transaction is expected to close in the second half of 2026, once the relevant authorizations have been obtained.

El Economista: Citi rechaza oferta de Grupo México por Banamex; seguirá con Chico Pardo y la OPI

4. Salesforce announces investment in Mexico

Salesforce announced that it will invest $1 billion in Mexico over the next five years to expand its operations and promote the adoption of artificial intelligence (AI). The investment will fund the opening of a new office in Mexico City and the creation of a Global Delivery Center to support customers throughout the Americas. Marc Benioff, the company’s CEO, noted that this investment reaffirms Salesforce’s commitment to Mexico as a key market for AI-driven growth. Mexico has rapidly emerged as a hub for technology services, attracting investment from companies in the sector, especially in AI, thanks to its proximity to the United States and a growing talent base.

The company, which began operating in Mexico in 2006, has a customer base that includes organizations such as Xcaret, Grupo Bafar, and FEMSA. Economy Secretary Marcelo Ebrard noted that this investment will not only create jobs and develop AI skills in the country but also position Mexico as a key consulting hub for Latin American markets in AI agents and more. This initiative joins other technology investments in Mexico; for example, Microsoft announced last year that it will invest $1.3 billion over the next three years to build cloud computing and artificial intelligence infrastructure in the country.

Forbes México: Salesforce anuncia que invertirá 1,000 MDD en México en los próximos cinco años

5. Remittances in Mexico fall for five consecutive months

Remittances sent to Mexico have fallen for five consecutive months, reflecting a downward trend in the flow of money from abroad, especially from the United States. In August 2025, remittances totaled $5.578 billion, representing an 8.3% annual decline compared to the same month last year. In the first eight months of the year, remittances totaled $40.467 billion, reflecting a 5.9% decrease compared to the same period in 2024. This year-on-year and month-on-month decline marks a change in the dynamic that for years had benefited the current income of many Mexican families, especially those in regions dependent on remittances from relatives abroad.

Among the factors explaining this decline are stricter immigration policies in the United States, which have generated uncertainty and fear among Mexican migrants, affecting their ability and willingness to send money. In addition, the strengthening of the peso against the dollar has reduced the value of remittances when converted to pesos, which decreases their purchasing power. This sustained decline has important implications for the consumption and well-being of recipient households, as many families depend on these resources to cover basic needs, education, and health services, so the reduction in this flow can directly affect their economic stability.

El Economista: Entrada de remesas a México suma cinco meses consecutivos con caídas