November 29th, 2024
1. President Sheinbaum Begins Dialogue with Donald Trump
Mexican President Claudia Sheinbaum reported that she held her first call with U.S. President-elect Donald Trump. Sheinbaum described the contact as cordial and expressed her intention to maintain a bilateral relationship based on cooperation and mutual respect, noting that there will be time to address specific topics on the shared agenda.
This comes after Trump’s statements about his intention to impose tariffs on Mexico and Canada. In response, the president sent letters to the leaders of both countries, emphasizing the importance of cooperation in various areas, including trade. Economy Secretary Marcelo Ebrard stated that the renegotiation of the United States-Mexico-Canada Agreement (USMCA), scheduled for 2026, is not at risk, as exports and imports between the two countries have shown solid growth.
Animal Político: Trump asegura que acordó con México cerrar frontera de EU para detener migración; Sheinbaum niega cierre.
El Informador: Altagracia Gómez encabeza plan de 100 parques industriales en el país.
2. Business Council Announced to Strengthen National Economy
During her morning conference, President Sheinbaum introduced the Advisory Council for Regional Economic Development and Business Relocation (CADERR), composed of fifteen entrepreneurs, government officials, and business leaders. This Council aims to boost the “Plan Mexico”, which seeks to strengthen free trade between Mexico, the U.S., and Canada through strategies like creating 100 Wellness Hubs featuring industrial parks, infrastructure, housing, and schools aligned with each region’s productive strengths.
The initiative aims to attract investment, generate jobs, and foster productive chains to replace imports and promote domestic production. Measures will include simplifying administrative procedures, providing incentives for local suppliers, and implementing education programs to enhance competitiveness with the participation of companies and academic institutions.
La Jornada: Anuncia la Presidenta plan México para crecer 2.5%.
Infobae: ¿Qué es el Plan México? Sheinbaum ‘da vistazo’ a estrategia para tratados comerciales.
3. Senate approves expanding the list of offenses subject to preventive detention
The Mexican Senate approved, with a majority vote, the reform to Article 19 of the Constitution, which seeks to expand the list of crimes that warrant automatic preventive detention. Among the new offenses included are extortion, the trafficking and handling of precursor chemicals and synthetic drugs such as fentanyl, as well as serious crimes related to smuggling and tax document forgery.
Although the reform aims to combat crimes that severely impact the economy and security, opposition lawmakers and human rights advocates questioned the measure, arguing that it undermines the presumption of innocence and contradicts rulings from the Inter-American Court of Human Rights. The next step for this project is to be approved by at least 17 state legislatures before it can take effect.
El Economista: Senado aprueba prisión preventiva oficiosa para delitos de extorsión, producción de fentanilo, entre otros.
4. Congress Confirms Judicial Election Schedule
The Congress of the Union rejected the request from the National Electoral Institute (INE) to postpone the judicial elections scheduled for June 1, 2025, by 90 days. The INE’s proposal sought to compensate for delays caused by court suspensions against the reform, but lawmakers emphasized that changing the date would require a new constitutional reform, which they considered inappropriate.
The election will mark a historic event, as for the first time, judges, magistrates, and Supreme Court ministers will be appointed through popular vote. According to the Evaluation Committee, over 40,000 people have registered to participate in the process. Despite the rejection of the delay, the INE reaffirmed its commitment to conducting the elections as originally planned.
Radio Fórmula: Congreso ‘batea’ al INE: niega prórroga para aplazar elección judicial 90 días.
5. Lawmakers Approve the Revenue Law
The Chamber of Deputies approved the Federal Revenue Law (LIF) for 2025, projecting historic revenues of 9.3 trillion pesos, which represents a 5.4% increase compared to 2024. Among the main measures, the implementation of the Petroleum Right for Well-being stands out, which unifies Pemex’s taxes into a rate of 30% on the value of extracted oil and 11.62% on natural gas. Additionally, the law envisions higher fiscal revenue, with tax revenues of 5.3 trillion pesos, to be achieved through the regulation of digital commerce platforms.
The law includes adjustments to fees, increasing rates for sectors such as mining and migration services, and approves debt ceilings for Pemex and the CFE, focusing on financial sustainability. The proposal was approved and will now pass to the Senate for further discussion.
Aristegui Noticias: Diputados aprueban la Ley de Ingresos de la Federación 2025; pasa al Senado.
El Economista: Diputados aprueban Ley de Ingresos, con nuevo Derecho Petrolero para el Bienestar.