April 17th, 2026
1. Bilateral meetings with the U.S. are moving forward, with the USMCA and mining among the topics on the agenda
Mexico and the United States have intensified their bilateral negotiations on two key fronts: the review of the USMCA and cooperation on critical minerals. As part of the treaty review, Marcelo Ebrard, Secretary of Economy, and Jamieson Greer, U.S. Trade Representative, will lead the second round of negotiations in Mexico City. These discussions, which include direct participation from the private sector, focus on import substitution to strengthen regional production and reduce dependence on external inputs. Priority issues include rules of origin, as well as the automotive, steel, and agricultural sectors.
In parallel, both countries are making progress on an agreement regarding critical minerals, such as lithium, cobalt, and fluorite, which are essential for technology and energy. This agreement aims to establish minimum prices, coordinate regulatory standards, and prevent disruptions in supply chains. The joint strategy also includes promoting technical cooperation and developing new technologies for the exploitation of these resources. These issues are emerging as priorities in the USMCA review, underscoring their importance for North American economic integration in a context of global technological competition.
El País: México y EE UU avanzan en el acuerdo de minerales críticos en la antesala de la revisión del TMEC
El Economista: T-MEC: Ebrard y Greer encabezarán segunda ronda de negociaciones
2. Government commits to studying fracking
Claudia Sheinbaum’s administration has established a technical committee composed of specialists from institutions such as UNAM, IPN, UAM, and the Mexican Petroleum Institute to evaluate the feasibility of using fracking in Mexico, a gas and oil extraction practice that involves fracturing rock with high-pressure water to release hydrocarbons, using the latest technologies with minimal environmental impact. The group will analyze aspects such as water availability, waste management, ecological risks, and energy costs and benefits, and is expected to issue an initial report in the coming months. This initiative comes as Mexico seeks to strengthen its energy security and reduce its dependence on natural gas imported from the United States, particularly in light of growing industrial and electricity demand.
The discussion is also part of a broader strategy regarding unconventional gas and the diversification of energy partnerships. In this context, South Korea’s foreign minister recently held meetings to expand bilateral cooperation in strategic sectors, including energy, reflecting Mexico’s interest in attracting investment, technology, and infrastructure related to energy supply. Thus, the creation of the committee does not imply immediate authorization for fracking, but rather the formal opening of a technical and geopolitical debate on new energy sources for the country.
El País: El Gobierno presenta al comité técnico que evaluará el uso del ‘fracking’ en el país
3. IMF upgrades Mexico’s outlook but forecasts higher debt and inflation
The International Monetary Fund (IMF), the organization responsible for monitoring global economic stability and issuing growth projections, has upgraded its forecast for Mexico in 2026, raising it from 1.5% to 1.6% of GDP. The revision reflects a slightly more favorable outlook for the Mexican economy, despite an international environment marked by geopolitical tensions, volatility in commodity prices, and a global slowdown. The adjustment also suggests resilience in domestic factors such as consumption, manufacturing exports, and the relocation of investments to Mexico.
However, the IMF warned that significant risks persist for the country, particularly due to the impact of international conflicts on oil and gas prices and global inflation, as well as more restrictive financial conditions. In this context, although the improved forecast strengthens the federal government’s narrative of economic stability, growth is expected to remain moderate and will depend on maintaining productive investment, fiscal discipline, and market certainty. Thus, the new projection represents a positive sign, but one not without external vulnerabilities that could alter the outlook in the coming months.
El Financiero: FMI mejora pronóstico para PIB de México a 1.6% en 2026; advierte de riesgos por guerra en Irán
4. Government seeks to strengthen agreement to stabilize the price of tortillas
The federal government is seeking to strengthen the National Corn-Tortilla Agreement, a voluntary mechanism between authorities and producers aimed at stabilizing the price of tortillas, a staple food in the Mexican diet that has a significant impact on inflation. To this end, officials led by the Ministry of Agriculture held meetings with representatives of the dough and tortilla industry, with the aim of reinforcing commitments to prevent price hikes and establishing additional measures within the agreement. The administration maintained that there are no conditions in the price of corn that justify a widespread increase in the product’s price.
The measure comes amid inflationary pressures on food prices and tensions between the government and part of the tortilla sector, which has cited higher operating costs for transportation, fuel, fertilizers, and informal labor. In this scenario, the strengthening of the agreement seeks to contain one of the most sensitive prices for the general public and support the government’s strategy against rising costs. Thus, rather than direct price controls, the government’s approach relies on coordination with the industry, oversight by Profeco, and logistical support to prevent further price hikes in a product that is key to household budgets.
Forbes: Gobierno busca fortalecer acuerdo para estabilizar precio de la tortilla
5. The modernization of the FTA EU-MX is projected to boost exports by 30%
The modernization of the Free Trade Agreement between Mexico and the European Union (FTA EU-MX), an agreement that regulates trade and reduces tariff barriers between the two parties, could boost Mexican exports to that bloc by up to 30%, according to estimates by Economy Secretary Marcelo Ebrard. The official explained that the update to the agreement eliminates a large number of tariffs across various sectors and will open new opportunities for domestic products, particularly in advanced manufacturing, the automotive industry, and agribusiness. The final modernization process, he added, is expected to conclude between May 22 and 27.
This expectation comes at a time when Mexico is seeking to diversify its markets and reduce its trade dependence on the United States, the main destination for Mexican exports. Greater access to the European market could also attract foreign investment, strengthen supply chains, and expand Mexico’s presence in sectors with higher value added. Thus, beyond the estimated increase in exports, the renewal of the USMCA represents a strategic move to reposition Mexico in global trade amid an increasingly competitive international environment.
La Jornada: Exportaciones a Unión Europea crecerán 30% con modernización de Tlcuem: Ebrard