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1. The President notes that there are no signs that USMCA will disappear

President Donald Trump announced that the trade agreement between Mexico, the United States and Canada (USMCA) would be revised. However, President Claudia Sheinbaum stated that there is no sign that the treaty will disappear, but on the contrary, there are talks in the area of finance and trade within the framework of the treaty.

In addition, the president emphasized the coordination between entrepreneurs to review export and import conditions supported by the Plan Mexico, as well as the rules under which the USMCA operates and before the World Trade Organization. The President is largely confident in the negotiation between the two nations, as well as the economic integration that exists between both parties where the preferential status of Mexico and Canada in the United States stands out.

La Jornada: No hay riesgo de desaparición del T-MEC

2. Julio Berdegue meets with Agriculture Committees of the US Senate and House of Representatives

Secretary of Agriculture and Rural Development Julio Berdegue met in Washington with representatives of the U.S. Senate and House Agriculture committees, John Boozman and Glenn Thompson, to address the possible application of 20.91% tariffs to Mexican tomato exports.

This meeting takes place after the U.S. Department of Commerce reports on the application of a compensatory quota to Mexicana tomato. The possible consequences have been shown by Jitomatory companies and associations who claim that more than 50,000 employees would be affected within the U.S. territory, with consumers being the main target. Agreement is expected to be reached before July 14 as the deadline for the entry into force of the tariff.

El Universal: Se espera llegar a acuerdo antes del 14 de julio en arancel a jitomate mexicano

3. Mexico cancels steels imports from more than 1,000 producers

Marcelo Ebrard, head of the Ministry of Economic Affairs, announced a series of new measures concerning the cancelation of imports from producers who commit irregularities in the steel industry, as according to the head of the unit, this measure is based on protecting the national industry and producing more jobs in Mexico.

Following an inspection requested by the President Claudia Sheinbaum, the cancelation and removal of 62 mills (machines to reduce the size of rocks and minerals) was initiated, with irregularities was initiated. This revision comes after the U.S. accusations that Mexico was acting unfairly by using aluminum from China and Rusia, and the imposition of 25% tariffs on steel and aluminum imports from Mexico since 12 March.

El Financiero: México cancela las importaciones de acero a más de mil productores

4. Senate plans two extraordinary periods to legislate presidential reforms

The Senate Chamber plans to meet in the second half of June to hold the first extraordinary session, also Ricardo Monreal anticipated that the Chamber of Deputies could be held in the first half of June, the extraordinary period is characterized by addressing urgent issues with specific agendas and limited topics, where the presidential initiatives pending for the regular period will be discussed.

Proposals to be studied and discussed include the General Law of Enforced Disappearance of Persons, Disappearance by Individuals and the National System for the Search of Persons, the General Population Law to strengthen the search, the location and identification of missing personas, as well as a new Law on Telecommunications and Broadcasting and the amendment of the Federal Economic Competition Act and the Federal Law on Parastatal Entities.

El Economista: Habrá dos sesiones extraordinarias para abordar paquete de reformas

5. The 88th banking convention of ABM begins

President Claudia Sheinbaum will lead the opening of the 88th Banking Convention organized by the Mexican Banking Association on Thursday, May 8.

To recognize the support of the banking system for the development of Mexico, an agreement will be signed to increase financing to small and medium sized enterprises, digitize the economy by reducing cash, lowering interest rates on loans, among other objects.

The delegation will include high-level negotiators from industry, the Ministry of Finance, INEGI, as well the participation of Altagracia Gomez, coordinator of the Business Advisory Council and James Robinson, Nobel Prize in Economics 2024.

La Jornada: Negociación de alto nivel en la 88 Convención Bancaria de la ABM