January 10th, 2025

1. New duties in 2025
The federal government published the general rules for Foreign Trade, so that starting in 2025, tariffs of 19% will be applied to products imported from countries without a trade agreement with Mexico. In the event that the merchandise comes from countries with international treaties, for example the T-MEC, the rate could increase to 17%, depending on the value of the product.
Although it has been pointed out that this measure is not aimed at a specific country, the new provisions would mainly affect products coming from China, which is the origin of more than one third of the total textile imports to Mexico. Mexican businessmen have applauded the measure because for years they have been denouncing unfair Chinese trade practices.
Animal Político: Modifican arancel: así se aplicará el impuesto de 19% a productos extranjeros que se adquieren en plataformas
2. Mexico achieves trade surplus with the U.S.
According to the U.S. Census Bureau, from January to November 2024, Mexico registered a surplus of $157.205 billion with the United States, equivalent to 12.53 percent more than in the same period of 2023, which positions the country as the main exporter to the U.S. and the second in the import of products and inputs of U.S. origin.
On the other hand, Mexico’s imports from the U.S. during November increased by 3.73 percent, since $26.9 billion were imported during this month, or $968 million more than in 2023. These figures strengthen the trade relationship between Mexico and the U.S.
El Economista: Superávit comercial de México con EU bate récord
3. Concerns about drop in formal employment
After it was announced that formal employment in Mexico decreased 1.8% in December compared to the previous month, the Secretary of Economy, Marcelo Ebrard, attributed this phenomenon to the uncertainty generated by U.S. President-elect Donald Trump, especially in relation to trade and tariff policies. For her part, President Sheinbaum added that this is also due to the completion of public works.
However, the private sector is alert, as formal job creation in 2024 had an annual growth of only 1%, being the lowest figure since 2020, when the Covid-19 pandemic impacted the labor sector. According to the Confederación Patronal de la República Mexicana, 1.2 million new formal jobs are needed to absorb the labor demand of young people entering the labor market every year.
Expansión: En 2024 se generó solo 18% de empleos formales que se necesitan; alerta a IP
Forbes: Desplome de empleo formal en diciembre es por Trump: Ebrard
4. Forums for the National Development Program begin
The consultation forums for the preparation of the National Development Plan 2025-2030 (PND) have begun and will be held from January 6 to 19 in different areas of the country with the aim of involving citizens in the preparation of this public policy instrument that seeks to guide the direction of government actions during this six-year term.
The PND 2025-2030 will be submitted to the Congress of the Union before February 28 and will have four general axes: Governance with justice and citizen participation; Development with well-being and humanism; Moral economy and work; and Sustainable development. Although its approval is imminent, due to Morena’s majority in Congress, it is expected to be an instrument that will provide greater clarity on the government’s objectives in the coming years.
5. President Claudia Sheinbaum’s popularity grows
Almost 100 days into her term, President Claudia Sheinbaum is consolidating her popularity among her electorate. According to a study by the newspaper El Financiero, the President enjoys a 70% approval rating, 10% more than the previous month, whose main driver of growth was in the youth sector.
El País, meanwhile, reports that 76% of the population approves of the President’s administration, with no significant differences by age, gender or level of education of those consulted, which also affects their confidence in important issues such as the Mexico – United States relationship, where 34% believe that President Sheinbaum will play a good role and 47% believe that she will play at least as good a role as her U.S. counterpart.
El País: Claudia Sheinbaum alcanza una aprobación del 76% dos meses y medio después de llegar al poder
El Financiero: Popularidad de Claudia Sheinbaum sube ‘como la espuma’: ¿Quiénes la apoyan más?