VOLTAR

1. Mexico Imposes 35% Tariff on Textile Goods 

The government of Claudia Sheinbaum has implemented a temporary 35% tariff on 138 imported textile products, excluding those from countries with trade agreements, to curb unfair practices and protect the 400,000 jobs in Mexico’s textile industry. Signed alongside Secretary of Economy Marcelo Ebrard, the decree aims to combat tax evasion and counterfeiting while fostering fair conditions for domestic businesses.

This measure responds to increasing unfair competition, particularly from Chinese manufacturers, whose goods enter as temporary imports but are sold locally without paying taxes. The Mexican textile sector, contributing 1.8% to GDP, has faced annual losses of 1.229 billion pesos.

Industry leaders such as Sergio Contreras from COMCE and Rafael Zaga Saba from Canaintex support the decision, emphasizing its potential to strengthen market stability and competitiveness. The tariff also aims to promote trade with higher domestic content, generating employment and development in the country.

El País: México impone un arancel de 35% a mercancías confeccionadas para proteger la industria textil nacional
Milenio: Apunta México a China con arancel de 35% a textiles

2. Morena Promises Dialogue on Infonavit Reform

The debate on the Infonavit Law reform has been postponed until January by Morena’s coordinator, Ricardo Monreal. He anticipates potential modifications to the Senate-approved project to address concerns from businesses, unions, and other sectors through open discussions in the Housing and Labor Committees of the Chamber of Deputies. Monreal stated that the delay reflects sensitivity to social demands, aiming for a law that combats corruption, promotes dignified housing, and protects workers’ savings.

The PAN party demands an open parliament and rejects using Infonavit funds for housing projects, citing risks similar to Pemex. Monreal assured that workers’ savings are legally safeguarded and dismissed fears of misuse. The debate will resume after January 6, with the goal of crafting a transparent and equitable legal framework.

La Jornada: Morena revisará con empresarios, constructores y sindicatos reforma a Ley del Infonavit

El Financiero: Monreal anticipa cambios a la reforma a la Ley del Infonavit: ¿Cuándo será discutida por diputados?

3. Banxico Cuts Interest Rate

The Bank of Mexico (Banxico) has reduced its reference interest rate by 25 basis points, setting it at 10% during its latest monetary policy meeting. Following the U.S. Federal Reserve’s lead, this decision reflects stable global economic growth and a slight decline in Mexican inflation. Banxico projects that general inflation will reach its target by the third quarter of 2026, highlighting risks such as geopolitical tensions and potential tariffs between Mexico and the U.S.

Domestically, Mexico’s economy showed signs of recovery in the third quarter of 2024, though challenges like slowing employment growth and potential stagnation remain. The central bank anticipates further interest rate cuts, maintaining a cautious approach to global and local risks.

Milenio: Banxico recorta su tasa de interés a 10% en última reunión de política monetaria en 2024

4. Mexico Advances Reforms to Protect Women

President Claudia Sheinbaum has signed a decree reforming seven laws to guarantee the rights of women, girls, and children in Mexico. Notable advancements include recognizing the gender pay gap, implementing a Gender Equality and Non-Discrimination Certificate, and strengthening the General Law for Women’s Access to a Life Free of Violence.

The reforms also establish a National Register of Protection Measures and define vicarious violence as a criminal offense. Labor provisions now expand parental leave and reinforce pay equity. Authorities gain new powers to enforce protective orders, and police play a key role in applying these measures. The decree aims to eradicate harmful practices and position Mexico as a leader in women’s rights protections.

Gobierno de México: Firma presidenta Claudia Sheinbaum decreto por el que se reforman leyes secundarias para proteger a las mujeres en México 

5. U.S. Inaugurates New Embassy in Mexico

The United States unveiled its new embassy in Mexico, the largest in the world, located in the Irrigación neighborhood of Mexico City, at a cost exceeding $1 billion. Outgoing Ambassador Ken Salazar highlighted the significance of bilateral ties, describing the embassy as a symbol of unity and cooperation. However, the inauguration coincides with political tensions, including the imminent U.S. presidential transition to Donald Trump, who has pledged mass deportations and tariffs if Mexico fails to strengthen migration control and combat drug trafficking.

The event underscored contrasts between collaboration and conflicts in U.S.-Mexico relations. Salazar emphasized joint achievements under Joe Biden’s administration, such as the T-MEC’s consolidation, while expressing optimism about cooperation on security and migration. Despite the embassy’s positive symbolism, underlying political and economic tensions highlight the complexity of this strategic alliance amid shared regional challenges and contrasting visions.

N+: Unión, la Clave en Relación entre México y EUA, Dice Ken Salazar en Nueva Sede de Embajada

Telemundo: EEUU tiene una nueva embajada en Ciudad de México, costó $1,000 millones