Apple has asked its suppliers to study the possibility of transferring between 15 and 30 percent of its production capacity from China to Southeast Asian countries and Mexico. Several knowledgeable sources of these plans told Nikkei News that this effort is driven in part by trade tensions between the United States and China. But according...Read More

Mexican President Andres Manuel Lopez Obrador said he spoke with Facebook Inc’s Mark Zuckerberg on Tuesday, inviting the social media tycoon to partner with him in a bid to promote universal internet access in Mexico. Lopez Obrador posted on both Facebook and Twitter a short clip of his video conference with Zuckerberg in which the...Read More

Mexican business leaders will sign a pact with President Andres Manuel Lopez Obrador on Thursday to foster investment, Mexico’s top business association said, potentially heralding an improvement in sometimes tense relations between the two sides. The Business Coordinating Council (CCE) said in a statement the accord to promote “investment and inclusive development” would be inked...Read More

The immediate outlook for Puerto Vallarta isn’t flattering, on the contrary, precautions are being taken for the economic slowdown that the country is going through and the impact on Puerto Vallarta, such as the reduction of 10 percent in hotel occupancy, said Carlos Elizondo Ramos, vice president of Coparmex Puerto Vallarta. “We have understood since...Read More

BMW sees no reason to change its plans for Mexico in the wake of U.S. threats to slap duties on Mexican imports, a board member of the German carmaker said on Thursday, adding the company sells cars globally despite tariffs placed by most countries on imported vehicles. The automaker also foresees no immediate change to...Read More

The Mexican economy will likely slip into recession this year if U.S. President Donald Trump follows through on a threat to impose tariffs on Mexican exports to the United States, a Reuters poll of market analysts showed on Wednesday. Last week, Trump vowed to slap escalating tariffs of 5% from June 10 on all goods...Read More

President Donald Trump said he expects to begin hitting Mexico with tariffs next week in a long-running dispute over illegal immigration, while Mexican officials predicted an agreement to avoid the penalties would be reached during upcoming negotiations. Trump said Tuesday that the parties would try to work something out, but continued to dangle the threat...Read More

The Mexican peso slumped to a five-month low and the cost of insuring exposure to Mexico’s sovereign debt rose to its highest in two months after U.S. President Donald Trump threatened to impose 5% tariffs on all imports from its southern neighbor. The Mexican peso sank as much as 3% after Trump said the tariff...Read More

In a surprise announcement that could derail a major trade deal, President Donald Trump announced Thursday that he is slapping a 5% tariff on all Mexican imports, effective June 10, to pressure the country to do more to crack down on the surge of Central American migrants trying to cross the U.S. border. He said...Read More

Mexico central bank cut its outlook for growth in Latin America’s No. 2 economy in 2019 to a range of 0.8%-1.8% on Wednesday, citing both global and domestic risks to investment and consumer sentiment. In a quarterly inflation report, the bank said pressures on the economy, which contracted 0.2% in the first quarter compared to...Read More

Mexico’s Finance Ministry said on Monday it had blocked the bank accounts of the former chief executive of state oil firm Pemex, one of ex-President Enrique Pena Nieto’s closest advisers, for allegedly carrying out “illegal” financial operations. The ministry’s Financial Intelligence Unit (FIU) identified the former CEO of Petroleos Mexicanos (Pemex) as Emilio Lozoya Austin....Read More

The Japanese store Miniso has arrived in the city of Puerto Vallarta with a brand new store in the Galerias Vallarta shopping center, located on Francisco Medina Ascencio. The fashion, accessories and household items chain inaugurated its first store in the port of Jalisco on Friday, May 24, reaching six stores in Jalisco. Prior to...Read More

IKEA, the world’s largest furniture seller, will open its first store in Mexico next year and plans to launch other stores around the country, the company said on Wednesday, as it expands in Latin America to counter growing competition in its core U.S. and European markets. The Swedish chain known for its modern and inexpensive...Read More

Mexican President Andres Manuel Lopez Obrador said on Monday his government will order an end to tax forgiveness for the country’s largest companies, saying $20 billion in exemptions given by his predecessors was akin to theft by gangsters. Of the firms that benefited from tax breaks totaling more than 400 billion pesos, 58 are listed...Read More

The economy of Mexico shows signs of a slowdown, which will lead the country to growth levels lower than last year, which was 2 percent. Analysts agree that the slowdown is due to the start of a new government administration, which is common to see since the new government is adopting, but also at a...Read More