China's chief trade negotiator Li Chenggang met Mexico's Deputy Economy Minister Vidal Llerenas in Beijing on Monday, in the first face-to-face talks since Mexico imposed higher tariffs on Chinese imports, drawing warnings from Beijing, Reuters reported. The two countries conducted in-depth exchanges on bilateral economic and trade relations and other issues, the Chinese Commerce Ministry said in a statement on Thursday. Mexico announced in December steep tariff increases on China and other countries without free trade agreements with Mexico - most up to 35%.

The Bank of Mexico left its benchmark interest rate unchanged on Thursday, pausing after 12 consecutive cuts to assess the inflationary impact of recent tax and tariff increases, the Wall Street Journal reported. The five-member board of governors voted unanimously to leave the overnight interest-rate target at 7.0% in their first monetary policy meeting of the year. The pause was widely expected. The board “deemed appropriate on this occasion to pause the rate-cutting cycle, consistent with the assessment of the current inflationary outlook,” the central bank said.

The 2025 financial debt of Mexico's state-owned oil firm Pemex, closed at $84.5 billion, the company's CEO Victor Rodriguez Padilla said on Wednesday during the daily morning press conference of Mexico's president Claudia Sheinbaum, Reuters reported. Pemex's financial debt at the end of 2024 was of $97.6 billion. 2025 marks the fifth consecutive year that the state-owned firm saw a decrease in its financial debt, Rodriguez said. Read more.

U.S. Trade Representative Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard agreed on Wednesday to begin formal discussions on possible reforms to the United States-Mexico-Canada trade agreement, Greer's office said, Reuters reported. Possible reforms for the USMCA Joint ​Review include stronger rules of origin for industrial goods, more collaboration on critical minerals, increasing efforts to defend workers and producers, and U.S.-Mexican ‌efforts to combat "the relentless dumping of manufactured goods in our region," the USTR's office said in a statement.

The U.S. Supreme Court declined on Monday to hear Citigroup's bid to avoid a lawsuit accusing the bank of causing ​more than $1 billion of losses by orchestrating a vast fraud at the bankrupt ‌Mexican oil and gas services company Oceanografia, Reuters reported. The justices turned away Citigroup's appeal of a lower court's May 2025 decision ‌to revive the decade-old lawsuit by more than 30 plaintiffs including Oceanografia bondholders, shipping companies and Netherlands-based Rabobank. By doing so, the Supreme Court let the lower court's decision stand.

Mexico's sweeping new tariffs on imports from mostly Asian countries are ​set to take effect on Thursday, in a ‌move that will largely align Mexico with the U.S. as the neighboring countries ‌place significant barriers on Chinese imports, Reuters reported. Approved by Congress in early December, the measure raises tariffs - most up to 35% - on countries without free trade agreements with Mexico, including China, India, South ⁠Korea, Thailand and Indonesia. ‌China is expected to bear the greatest impact.

When President Trump began raising tariffs earlier this year, government officials and economists feared Mexico’s export-led economy would take a devastating hit. Instead, Mexican exports to the U.S. have grown, the Wall Street Journal reported. Because Mexico’s ultimate tariff rate ended up lower than for most other countries, the disparity has helped Mexican exports fill some of the gap left by Chinese products subject to higher levies. Producers seeking a foothold in the U.S.

Brazilian airline Azul SA is the latest in a string of overseas carriers turning to chapter 11 in the US, becoming “bankruptcy tourists” to access legal protections largely out of reach in their home countries, according to a Bloomberg Law commentary. Azul’s bankruptcy plan, approved this month, slashes more than $2 billion in debt and allows it to reject aircraft leases it couldn’t easily shed at home. Other foreign carriers seeking chapter 11 in the US over the past five years include Avianca, LATAM, Grupo Aeroméxico, and, more recently, Brazil’s Gol Linhas Aéreas.

Mexico’s automotive industry posted sharp declines across cars, light trucks and heavy-duty commercial vehicles in November, as road blockades, labor stoppages and softer global demand disrupted factory operations and slowed exports, Freight Waves reported. The country’s heavy-vehicle manufacturers — tractor-trailers, trucks and buses — recorded significant declines in November, according to data from Mexico’s National Association of Bus, Truck and Tractor Producers (Anpact).

Mexico's decision to raise tariffs as high as 50% will affect $1 billion worth of shipments from major Indian car exporters, including Volkswagen and Hyundai, despite industry lobbying to persuade New Delhi to prevent such a move, according to two sources and a letter from an industry group reviewed by Reuters. Mexican President Claudia Sheinbaum's government approved on Wednesday raising import tariffs next year on hundreds of items from countries it does not have trade agreements with, including China and India, to protect local jobs and manufacturing. But the move also comes amid U.S.