April 26th, 2024


1. The Supreme Court denies injunctions and ratifies food labeling 

After the modification of the General Health Law in 2020 to implement front-of-package labeling on food and beverages, a group of companies filed injunctions claiming violation of rights to commercial freedom.

In a plenary session, the justices of the Supreme Court of Justice of the Nation (SCJN) unanimously resolved the matter, endorsing front-of-package labeling with the aim of facilitating consumer decision-making.

Milenio: Corte desecha amparo a empresas contra etiquetado frontal de alimentos.

El Economista: Declara Suprema Corte constitucional el etiquetado frontal de alimentos.

2. Temporary import taxes imposed to favor nearshoring

According to a decree published by the Ministry of Economy, starting from Tuesday, April 23rd, the importation of 544 products, including raw materials and manufactured goods from countries without a trade agreement with Mexico, such as China and India, will have an additional temporary tariff ranging from 5 to 50%. This measure aims to generate stability in the markets due to the implementation of nearshoring as a business model, stated the Ministry of Economy.

Among the listed items are steel, aluminium, textiles, wood, plastic, chemicals, and cardboard, among others.

El Economista: México erige dique arancelario para favorecer nearshoring.

El Universal: Aumenta México aranceles a China y países sin tratado hasta en 50%. 

3. Deputies approve amendments to the Amparo Law 

The plenary of the Chamber of Deputies approved with 258 votes in favor a reform to the Amparo Law that limits the powers of judges to suspend, in a general manner, norms or acts with social repercussions. With this modification, the aim is to prevent judges from various jurisdictions from halting government works and projects, such as the case of the Mayan Train.

In the same session, changes to the Amnesty Law were discussed and approved, allowing the President of the Republic to release from prison individuals who provide relevant elements in cases of justice.

El Universal: Diputados avalan en lo particular la reforma a la Ley de Amparo. 

Aristegui Noticias: Diputados aprueban y envían a AMLO la reforma que lo faculta a otorgar amnistía directa.

4. Candidates present proposals to bankers; suggest renegotiation of the USMCA

In a meeting with members of the Council of the Americas (COA) from the Americas Society (AS), presidential candidate Claudia Sheinbaum mentioned that the country is in a good position to renegotiate some aspects of the United States-Mexico-Canada Agreement (USMCA) such as genetically modified corn and migration.

At the Banking Convention held in Acapulco, presidential candidates presented their economic platform for the upcoming elections. Claudia Sheinbaum proposed the continuity of the projects initiated by President López Obrador. Meanwhile, Xóchitl Gálvez proposed support for the private sector and the promotion of nearshoring.

El País: Los candidatos presidenciales exponen sus planes económicos ante la Convención Bancaria. 

Milenio: Sheinbaum ofrece una revisión de T-MEC en 2026 sin problemas.

5. Senators expedite approval of pension law 

After its approval in the Chamber of Deputies, the new pension law creating the “Pension Fund for Well-being,” a public trust funded by unclaimed retirement savings accounts and other government entities to finance workers’ pensions, was sent to the Senate of the Republic.

Once in the Senate, the relevant committees approved the report expeditiously, which was subsequently passed on Thursday night. Its promulgation now depends on the Executive Power. 

Proceso: Avanza el Fondo de Pensiones del Bienestar en el Senado; oposición acusa “fast track”.

Forbes México: Senado aprueba creación del fondo de pensiones; pasa al Ejecutivo para su publicación.