Mexico

On Tuesday, President Donald Trump doubled the planned tariffs on steel and aluminum imports from Canada. This was in response to Ontario's decision on Monday to impose a 25% tariff for its electricity exports into the U.S. Trump posted on his Truth Social media page that he had instructed his Commerce Secretary to impose an additional 25% tariff for metals products. The new tariff will be in effect Wednesday morning. "Canada must also immediately remove their anti-American Farmer tariff of 250% to 390 % on various U.S. Dairy Products, which is long considered outrageous. "I will declare a National Emergency...

Analysts and trade sources said that Mexican fuel oil cargoes will be heading to Asia and Europe in this month due to higher prices. Traders also plan on diversifying after U.S. president Donald Trump imposed import tariffs this week. Pemex, the state energy company in Mexico, usually sells its heavy crude oil and high-sulfur fuel oil to U.S. Gulf Coast refining plants for processing. However, a 25 percent tariff imposed by Washington on Mexican products on Tuesday has caused cargoes to be diverted. Data from shipping analysts Kpler and Vortexa and trade sources show that Mexico's HSFO exports to Asia...

The "wait and watch" period for North American businesses is over. U.S. president Donald Trump imposed a 25% tax on goods coming from Canada and Mexico along with a tariff of 10% on China. This could be the beginning stages of a full scale trade war that will cause new headaches to executives who have already been dealing with rising costs for years. Tariffs on imports from the U.S.’s three biggest trade partners could disrupt industries ranging from consumer goods to autos. Before Saturday's announcement of tariffs, executives were able to dodge questions regarding the issue. Many wanted to avoid...

Donald Trump, the U.S. president, said that he expected his administration to implement tariffs on oil and gas by February 18th. It could also reduce the planned tax on some Canadian crude. Refiners in the Midwest of the United States process about 70% of this oil imported by the U.S. Analysts and companies have warned that a tariff on oil imports may lead to a decrease in fuel production at these facilities, and increase costs for consumers. Trump didn't specify a country that would be affected by the new tariffs or give any further details. Trump told reporters at the...

U.S. President Donald Trump's. go back to the White House has actually been met both relief and. dissatisfaction throughout world markets as investors try to exercise. what the next four years will bring. The approach will be chaotic, unpredictable, spur of the. minute and driven by Trump himself, stated Russel Matthews,. senior portfolio manager, international macro at RBC BlueBay Asset. Management. Here's a take a look at some of the winners and losers emerging. from Trump's very first 24 hr in workplace. 1/ NAME CALLING Calling out Canada and Mexico as possible targets for. tariffs took an even more toll...

Brazilian digital loan provider Nubank has actually signed a contract with Mexican convenience shop chain Oxxo, run by FEMSA, to broaden its cash deposit and withdrawal network in the North American nation, the firms revealed on Monday. WHY IT is essential Warren Buffett-backed Nubank, among the Latin America's. biggest firms by market price, has been aiming to scale its. operations in Mexico and Colombia after growing in Brazil, its. home market, where it has more than 100 million consumers. While Nubank's Brazil operations are nearly fully digital,. the lending institution has been utilizing different techniques to grow in. Mexico, where...

Oil producers in Canada and Mexico will likely be required to lower rates and divert supply to Asia if U.S. Presidentelect Donald Trump enforces 25% import tariffs on unrefined imports from the two nations, traders and analysts stated. 2 sources knowledgeable about Trump's plan informed Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico, in spite of the U.S. oil market's cautions that the policy might harm customers, market and national security. The United States accounts for 61% and 56% of unrefined exports from Canada and Mexico, respectively, ship tracking data from...

Hurricane Rafael was rapidly getting steam on Tuesday afternoon as it downed toward the Cayman Islands in the Caribbean, and will likely become a. cyclone in the next few hours, according to the U.S.based. National Typhoon Center. Rafael was blowing optimal sustained winds of 70 miles per hour (113. kph) after skirting past western Jamaica around mid-day, the NHC. said in a weather report. Residents in Jamaica hunched down, with 4 emergency situation. shelters triggered, according to authorities. No deaths or. injuries were reported as bursts of heavy rain disposed on the. island. As Rafael chugged toward the Cayman Islands,...

The U.S. government is studying. really carefully the possibility of imposing additional sanctions. on individuals in Venezuela along with prospective withdrawing. licenses for oil companies working in the South American. nation, in response to what it calls a deceptive election, a. senior authorities stated on Friday. Brian Nichols, U.S. assistant secretary of state for Western. Hemisphere affairs, made the remarks during a webcast instruction. with press reporters. Using either specific sanctions or the. cancellation of licenses related to sectoral sanctions are. something that we're studying extremely carefully, said Nichols, after. being asked about the possibility of imposing new visa. constraints...

A major U.S. oil and gas trade group on Monday cautioned that energy production in the Gulf of Mexico might stop if the Commerce Department does not act rapidly to publish a brand-new assessment of how endangered species need to be secured in the region. WHY IT is very important A court ruling by a federal judge last month tossed out a. National Marine Fisheries Service biological opinion that is. legally required for oil and gas expedition and drilling to be. carried out. The judge gave NMFS, a division of the Commerce Department,. till Dec. 20 to finish a brand-new...

Mexican state oil company Pemex's most recent refinery processed some 65,046 barrels each day of petroleum in July, its first month of operations after numerous delays, and simply over 30,000 bpd of diesel and coke. The Olmeca refinery's production consisted of 21,511 bpd of diesel and 8,775 of coke, Pemex stated in a recent report, but no fuel. With an optimum processing capacity of 340,000 bpd, the refinery in the Gulf port of Dos Bocas in Tabasco state is Pemex's seventh Mexican refinery. The brand-new capability assisted the producer procedure some 1.01 million bpd this month. This is 145,589 bpd...

Mexican state energy business Pemex is unlikely to produce any commercially feasible motor fuels at its new Olmeca refinery before completion of the year, five sources said, regardless of pressure that it ought to be ready before the outbound president's term ends. President Andres Manuel Lopez Obrador, a resource nationalist, inaugurated the 340,000 barrelperday refinery in July 2022 in his home state Tabasco, billing it as vital to energy selfsufficiency for Mexico. However, hold-ups at the refinery in the port of Dos Bocas, whose expense has more than doubled to $16.8 billion, implies it will be up to his follower...

Investors remained cautious ahead of the U.S. Federal Reserve's interest rate decision scheduled for later that day. The blue-chip FTSE 100 dropped 0.2% at 7.40 GMT. Compass Group was among the biggest losers in the blue-chip index. Its shares dropped 4%, after Exane BNP Paribas lowered the stock's rating from "outperform" to "underperform." Metal miners are weakening, with Fresnillo down 2%. Glencore dropped 1.5%, while Anglo American fell 1.3%. This was after HSBC lowered price targets for both mining companies. The Federal Reserve's decision to change its policy is the highlight of a week that has been packed with meetings...

On April 2, the Trump administration will provide trading partners with a proposed U.S. Tariff rate based upon their own tariff rates, non-tariff barriers to trade and other factors. They will also have an opportunity to bargain to avoid a “tariff wall,” U.S. Treasury secretary Scott Bessent stated on Tuesday. Bessent told Fox Business Network "Mornings With Maria" that "each country will receive on April 2 a number which we believe represents its tariffs." "For some nations, it may be very low, and for others, it may be very high." Trump said his "reciprocal duties" will go into effect on...

On April 2, the Trump administration will provide trading partners with a proposed U.S. Tariff rate based upon their own tariff rates, non-tariff barriers to trade and other factors. They will also have an opportunity to bargain to avoid a “tariff wall,” U.S. Treasury secretary Scott Bessent stated on Tuesday. Bessent said Fox Business Network that "on April 2, each country would receive a number which we believe represents its tariffs." "For some nations, it may be very low, and for others, it may be very high." Trump said his "reciprocal duties" will go into effect on April 2 to...

Mexico's Economy minister Marcelo Ebrard announced on Thursday that his government is in intensive discussions with the United States about Washington's threat to impose tariffs against goods imported from Mexico. Mexico's Economy Minister Marcelo Ebrard said on Thursday that his government was in intensive talks with the United States over Washington's threats to impose tariffs on goods from its No. The United States has threatened, implemented, and paused tariffs against Mexico. This is expected to have an impact on both economies which have been tightly integrated over the past three decades through free trade agreements. As the uncertainty surrounding the...

Mexico's president Claudia Sheinbaum said on Wednesday that her government would not immediately retaliate against new 25% tariffs placed by the U.S. for all steel and aluminium imports, but instead wait to see if a resolution can be reached in the next few weeks. The increased tariffs by U.S. president Donald Trump on all imports of steel and aluminum took effect with "no exceptions or exclusions", intensifying the global trade conflict. Sheinbaum told her morning press conference that she would wait until the 2nd of April to see if our definitions of reciprocal tariffs were also applied. Trump argues that...

Mexico is expecting to see a significant increase in the number of companies that are compliant exporting to the U.S., under a regional trading pact, said Economy Minister Marcelo Ebrard on Friday after Washington suspended tariffs on Mexican shipments under the agreement. Ebrard said, in a press conference with President Claudia Sheinbaum that currently, over half of the goods coming from Mexico into the U.S. are compliant to the U.S.MexicoCanada (USMCA), and therefore eligible for the tariff exemption. Announced on Thursday The minister estimated that this figure could rise to between 85% to 90% as companies shift their export practices...

Since returning to office in January, Donald Trump has issued numerous tariff threats. These range from a duty on all imports to a targeted tariff on certain sectors or countries. Trump's threats changed over time. This left other nations and business unclear as to what was next. It also created uncertainty for consumers and triggered a recent stock-market sell-off. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual roll-out of tariffs that will apply to all U.S. imported goods. Last month, Trump asked his team of economists to...

The price premiums for aluminum on the US physical market have reached a new record due to the threat of tariffs being imposed on imports. Aluminium is used in transport, construction and packaging. Donald Trump, the President of the United States, plans to reinstate 25% tariffs on aluminum imports as of March 12. On Tuesday, tariffs on the majority of imports from Mexico or Canada came into effect. On the physical market, buyers pay a premium that typically covers taxes and transport costs. The U.S. Midwest duty paid aluminium premium is now above 40 U.S. Cents per lb, or almost...

On Tuesday, Prime Minister Justin Trudeau said that President Donald Trump's new tariffs against Canadian imports was "a very stupid thing to do", and Ottawa would strike back immediately. Trudeau said that Canada would impose immediate 25% tariffs against C$30 billion of U.S. imported goods and, if necessary, another C$125 Billion in 21 days. Trudeau said to reporters that there was no need for the tariffs and Canada would contest them at the World Trade Organization as well as through the U.S. Mexico-Canada Trade Agreement. Trump claimed Canada failed to do enough in order to stop the flow of deadly...

His Commerce Secretary said that President Donald Trump would decide on Monday which tariff levels he would impose on Canada and Mexico on early Tuesday morning, amid last-minute talks over border security and efforts aimed at preventing the inflow of opioids such as fentanyl. Trump has promised to impose tariffs of 25% on all imports coming from Canada and Mexico. The Canadian energy sector will be subjected to 10%. CEOs and economists claim that the tariffs, which cover more than $900 Billion in annual imports to the United States from Canada and Mexico, would be a major setback for the...

The Trump administration has delayed the implementation of new tariffs against Mexico and Canada for a month. The reprieve will end on Tuesday. The U.S. Commerce secretary Howard Lutnick confirmed that the tariffs against Canada and Mexico will take effect on February 2. Donald Trump, however, will decide if the proposed tariff rate of 25% is maintained. Canada exports mainly crude oil, other energy products and cars and car components as part of North American auto manufacturing chains. Mexico exports a variety of goods from the auto and industrial sectors. What top brokerages say about the impact of tariffs on...

The U.S. president Donald Trump ordered on Saturday a new investigation into trade that could add more tariffs to imported lumber. This would be in addition to the existing duties on Canadian softwood timber and 25% tariffs due next week on all Canadian and Mexican products. In his third new investigation in a single week, Trump has signed a memorandum ordering Commerce Secretary Howard Lutnick that he initiate a national-security investigation into U.S. Lumber Imports under Section 223 of the 1962 Trade Expansion Act. Trump used the same trade law to impose tariffs against global imports of steel and aluminum....