Latest news with #US-Mexican
Yahoo
02-06-2025
- Business
- Yahoo
US-Mexico relations: tariff vertigo, construction and silver linings
Ollie Brown is a GlobalData economist focusing on the construction sector and foreign direct investment in the LATAM region. Evidently for constructors and investors on either side of the US-Mexico border, US President Donald Trump's tariffs are rewriting international trade relations with many implications across Latin American economies. Short-term, 25% levies on all exports to the US-- made effective March 4th-- are expected to cripple derived construction demand in Mexico. Long term, there could be benefits as the retainment of high skilled labour and Mexico's foothold in changing global trade could foster more resilient growth, striding away from US dependence. Since Trump's inauguration on January 20th, the White House announced a slew of tariffs on the US's largest trading partners, biased to nations holding significant trade surpluses to the US. Seemingly, US tariffs are being threatened to further national interests, seeking to maximise rent on goods imported to the US, while leveraging access to the US's market as a bargaining tool. Exact levy figures – and market ramifications – continue to fluctuate parallel Trump's sporadic remarks, but to-date (29/05/2025): Mexico faces a 25% bilateral tariff on all USMCA non-compliant exports to the US, made effective March 4th, revoking USMCA free trade terms (consistent with Canada). Mexico is subject to 25% blanket automotive, steel and aluminum tariffs on all exports to the US, whereby steel and aluminum levies hit markets on March 12th, and automotive on April 3rd. Mexico was exempt from further 'Liberation Day' tariffs (along with Canada) announced April 2nd, testament to President Claudia Sheinbaum's cooperative stance as she has avoided retaliation. For example, as part of Mexico's 30-day suspension on US tariffs in February, Mexico agreed to deploy 10,000 National Guard troops to its northern border to combat fentanyl trafficking and illegal immigration. It shows the US is open to trade political concessions for reprieves in the ongoing trade war. For Latin America, while constant policy u-turns make forecasting difficult, the most obvious political concession appears to be cooperating in curtailing migration to the US, one of the Trump administration's defining issues. Hence, the ability to leverage migration control in the tariff tit-for-tat means the likes of Mexico, Brazil, Argentina and other countries south of the US border face comparatively softer treatment. While China, on the other hand, faces an accumulated surtax of 145% in tariffs. Despite relatively subdued tariff measures, in the short-term, levies will abet waning export demand given the scale of US-Mexican trade. Evidently, Mexican exports to the US have been growing YoY to £505.9b in 2024. Similarly, US export share has increased to approximately 82% in 2024, indicative of how dependent Mexico had become on US trade. Therefore, tariffs will disproportionally weigh on Mexico's economy as exporters scramble to substitute US demand. Additionally, FX volatility has been adding to bearish sentiment, albeit recently, the US dollar has dramatically depreciated against the Mexican Peso, from 20.84 (March 11th) to 19.54 (March 24th)-- as illustrated in Figure 2. Therefore, peso price appreciations will somewhat soften the blow to Mexican traders as their currency becomes more regionally competitive. Still, this boost in value will not be substantive enough to counter the expected loss in demand from US levies. Previously, GlobalData argued that tariffs on Mexico would almost inevitably be inflationary, as higher import costs would translate into elevated building material prices and higher barriers to obtaining new building permits which would stunt construction output. However, it now seems that the inflationary effects from the tariffs are being outweighed by the deflationary effects of waning demand as trade volumes plummet. Effectively, the higher prices Mexican constructors would hypothetically have to pay on the supply-side are currently redundant, because there isn't sufficient demand to action the project. Regardless, the short-term net effect is negative. Therefore, GlobalData has revised Mexico's construction output forecast to decline by 7% in 2025. Similarly, economic growth forecasts from TSLombard have been revised downwards from 0.5% to 0.2% for 2025. Parallel to ongoing US-Mexican negotiations over trade in goods and services, Mexican migration to the US is expected to drop as the administration revamps deportation efforts, which have been an effective deterrent for would-be migrants. Given that US remittances to Mexico totalled approximately $65bn in 2024, mass deportations will compound short-term pain. However, the retention of skilled labour in Mexico, previously lost to US industries, could foster more resilient, long-term growth. Figure 3 showcases that in 2022, undocumented workers accounted for approximately 14% of the US's total construction workforce. It is a figure that likely increased in parallel with record surges in migration under the Biden-Harris administration. According to CPWR, workers of Mexican origin account for approximately one-third of the US's total construction labour (2023). Therefore, Trump's hostile migratory policies will inadvertently redirect construction labourers back to Mexico, increasing the ability of Mexican construction to source skilled labour. Mexico's capacity to capitalise on a more robust labour force, however, hinges on its ability to foster the public-private sectors to generate funds to stimulate construction jobs and growth. As previously mentioned, decreased US-Mexican trade will infringe this ability, but long-term, Mexico is taking steps to attract a more diverse assortment of investors. For instance, all trade partners listed in Figure 4 face US levies of varying levels– and correspondingly pose a substitutable investment, particularly in China. Mexico also reached a revamped trade deal with the European Union in January, is currently discussing trade opportunities with China, and is reportedly exploring closer relations with Mercosur– Latin America's regional trade block. GlobalData forecasts rebounded (albeit modest) construction growth in Mexico at a 2% CAGR from 206 to 2029. "US-Mexico relations: tariff vertigo, construction and silver linings" was originally created and published by Investment Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
New York Post
24-05-2025
- Entertainment
- New York Post
'Tiger King' Joe Exotic's husband pleads to return to US
'Tiger King' Joe Exotic's husband says he's been tossed from one cage into another — and now fears for his life in cartel-infested Mexico after Immigration and Customs Enforcement officials booted him from the US. 'There is a lot of organized crime here and there is no security,' Jorge Flores Maldonado told The Post this week from Tamaulipas state, in northeastern Mexico — where he is begging to come back to the US. 5 Jorge Flores Maldonado had been 'depressed' since getting deported to his native Mexico May 17 — and hasn't been able to communicate with his husband, Joe Exotic, he told The Post. Instagram/@joe_exotic Advertisement 'I am a very famous person and right now I run the risk of being kidnapped. 'The cartels are very active here — I cannot even go out on the street,' he added. 'They think I have money because of my husband.' Maldonado, 33, was deported by ICE May 17 after getting busted in August for allegedly driving a car loaded with six other undocumented immigrants across the US-Mexican border. Advertisement It was inside a federal lockup in Fort Worth, Texas, where sparks flew between the migrant and the most infamous cat-wrangler in America. 5 Maldonado now fears for his safety in the cartel-ridden Tamaulipas state of Mexico. Obtained by the New York Post 'It was a beautiful romance,' Maldonado said, referring to his relationship-turned-marriage to Exotic, aka Joseph Allen Maldonado-Passage, 63, who is in his fifth year of a 21-year sentence for plotting to hire a hitman to murder his arch-rival Carole Baskin, and for violating federal wildlife laws. 'When I arrived at the prison, Joe wanted to get to know me, he wanted to talk to me, and since I didn't know English, we would translate back and forth because he said, 'I want to know more about you,'' Maldonado recalled. Advertisement Despite never having seen Netflix's hit series, 'Tiger King,' or knowing anything about the caged celebrity, Maldonado said they quickly fell head-over-heels during long walks in the prison yards, shared workouts and meals, library dates and movie nights. 5 Maldonado and Exotic tied the knot inside of the federal Texas lockup in November. Obtained by the New York Post 'He is very nice, he made me laugh at anything, he was always happy,' he gushed. 'We had a very beautiful routine.' To bridge the language barrier, Exotic took Spanish classes while his beau attempted to pick up English — although Maldonado insisted on speaking only in his native tongue during a call with The Post this week. Advertisement They sealed their unlikely love story with a prison wedding in November, marking the occasion with tattoos of 'Joe Exotic' on Maldonado's neck, and an image of Exotic's face inked on his left forearm. 5 'He is very nice, he made me laugh at anything, he was always happy,' Maldonado said about Exotic. Instagram/@joe_exotic 5 Exotic, aka Joseph Allen Maldonado-Passage, is currently in his fifth year of a 21-year sentence for plotting to hire a hitman to murder his arch-rival Carole Baskin, and for violating federal wildlife laws. Netflix US/AFP via Getty Images But the romance hit a wall when ICE shipped Maldonado back across the border, cutting off contact with his big-cat-loving husband. 'I feel terrible, I have been very depressed, desperate,' he said. Maldonado is now pleading for a miracle – and a pardon. 'I want permission to return to the United States and I want Donald Trump to pardon my husband as well – that's what I want. I want him to get out of prison, so we can move to the beach. We have many plans. We want to start working again, to do a lot of things, to live a beautiful life. Advertisement 'Joe wants to return to his music…and I want to support him,' he added. When asked by a reporter if he would consider pardoning Exotic in April 2020, Trump said he didn't know anything about the case but vowed to 'take a look.'
Yahoo
30-04-2025
- Business
- Yahoo
Trump tracker: Is the US president keeping his pledges?
Donald Trump made a raft of promises about how he would repair America before re-entering the Oval Office for his second term in January. Below, we examine how many of Mr Trump's campaign promises have been kept as the US president approaches his first 100 days in office. From inflation to immigration, trade policies and tariffs, The Telegraph breaks down the numbers behind the 47th president's political performance. This page will be continually updated throughout Mr Trump's term to provide an ongoing assessment of his performance. During his first term as president, Mr Trump's approval ratings rarely went above 50 per cent. On day one of his second presidency, just 48.5 per cent had a favourable view of the Republican. This figure has since declined. Compared to other presidents, Mr Trump is underperforming for this stage of his presidency. However, he did start with a higher approval rate than when he began his first term in 2017. Mr Trump's second term began with a renewed push on immigration. Preventing unlawful migrants from entering the US is a cornerstone of Mr Trump's immigration policy, made possible by the fortification of the US-Mexican border. The US president is also focused on migrants who are already in the country. Immediately after he took office, he scrapped the CBP One smartphone app, which had allowed migrants to schedule appointments with US border patrol agents. Since Mr Trump returned to the White House, illegal crossings over the US-Mexican land border have plummeted to the lowest on record. Prior to the election, Mr Trump repeatedly said he would end the war between Russia and Ukraine on his first day in office. On Feb 12, he announced that he had spoken with Vladimir Putin, the Russian president, on the phone. This is the first known conversation between the leaders since Mr Trump assumed office in January. Ceasefire talks have since begun but are ongoing and the war rages on. A day before the election, Mr Trump told a rally in Michigan: 'We're just one day… a half a day… away from the best jobs, the biggest paychecks and the brightest economic future the world has ever seen.' Since January 2025, the number of new jobs has surged, unemployment has slowly decreased and inflation has fallen. However, Mr Trump's global tariff war has been blamed for sending the global markets into a frenzy and major retailers have warned of empty shelves in America in the coming weeks. The practice of a newly installed president signing a raft of executive orders in the first few days of their first term was first made popular by Barack Obama, but Mr Trump has gone further. On day one of his presidency, Mr Trump issued 26 executive orders. This placed him ahead of Joe Biden and Mr Obama, as well as his own 2017 record. His orders covered everything from federal hiring freezes to energy deregulation. Although, as executive orders are not equivalent to legislation, so many of Mr Trump's directives will face federal agencies before they take effect. Two months before his election, Mr Trump, referring to federal employees, said: 'They're destroying this country. They're crooked people, they're dishonest people. They're going to be held accountable.' Mr Trump has since slashed the federal workforce, an exercise he refers to as 'draining the swamp'. The 'swamp' is a nickname for Washington DC inspired by the capital city's humid climate and the fact that some of the district was originally built on wetlands. It has since become associated with the city's high number of federal workers. But legalities, laws and regulations stand to delay further 'draining' efforts by Mr Trump. 'We will drill, baby, drill,' Mr Trump said in his inauguration speech, adding that the US has the 'largest amount of oil and gas of any country on Earth – and we are going to use it'. This mantra made clear his goal to ramp up fossil fuel extraction, even though the US's production of oil is already at one of the highest rates it has ever been. Trade and tariffs were one of the defining policies of Mr Trump's first term as president – and they are just as important the second time around. Mr Trump has reimposed tariffs on Chinese electronics and threatened European carmakers with fresh duties. It is a familiar playbook – and one that could spark another round of retaliations. He is no longer allowing imports into the US without an appropriate tariff, stating that countries should embrace 'a little tough love'. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Business Mayor
29-04-2025
- Politics
- Business Mayor
Trump news at a glance: children targeted in immigration crackdown
As part of President Donald Trump's sweeping immigration crackdown, unaccompanied minors are now being targeted for deportation, with the Department of Homeland Security engaging in 'welfare checks' on children who arrived in the US alone, usually across the US-Mexican border. The moves have sparked fears of a crackdown and prompted alarm about what one critic called 'backdoor family separation'. The president has also signed two executive orders related to immigration, including one targeting so-called 'sanctuary cities' that 'obstruct the enforcement of federal immigration laws'. Here are the key stories at a glance: Immigration and Customs Enforcement (Ice) officials are seeking out unaccompanied immigrant children in operations nationwide with a view to deporting them or pursuing criminal cases against them or adult sponsors sheltering them legally in the US, according to sources and an Ice document. Read the full story The Peace Corps is offering staff a second 'fork in the road' buyout, according to a source familiar with the matter. Allison Greene, the chief executive of Peace Corps, sent an email to staff on Monday with an update about the 'department of government efficiency' (Doge) assessment of the agency. Read the full story Elon Musk and his companies face at least $2.37bn in legal exposure from federal investigations, litigation and regulatory oversight, according to a new report from Senate Democrats. The report attempts to put a number to Musk's many conflicts of interest through his work with his so-called 'department of government efficiency' (Doge), warning that he may seek to use his influence to avoid legal liability. Read the full story Donald Trump's appointees at the Department of Justice have removed all of the senior civil servants working as managers in the department's voting section and directed attorneys to dismiss all active cases, according to people familiar with the matter, part of a broader attack on the department's civil rights division. Read the full story Democrats have warned that cuts to the US's top labor watchdog threaten to render the organization 'basically ineffectual' and will be 'catastrophic' for workers' rights. Elon Musk's Doge has targeted the National Labor Relations Board for cuts and ended its leases in several states. Read the full story Illinois's Democratic governor, JB Pritzker, scorched Donald Trump's administration, calling for 'mass protests' and declaring that Republicans 'cannot know a moment of peace' during a fiery speech in New Hampshire that immediately sparked presidential speculation. Read the full story Catching up? Here's what happened on 27 April 2025. READ SOURCE
Yahoo
29-04-2025
- Politics
- Yahoo
Trump news at a glance: children targeted in immigration crackdown
As part of President Donald Trump's sweeping immigration crackdown, unaccompanied minors are now being targeted for deportation, with the Department of Homeland Security engaging in 'welfare checks' on children who arrived in the US alone, usually across the US-Mexican border. The moves have sparked fears of a crackdown and prompted alarm about what one critic called 'backdoor family separation'. The president has also signed two executive orders related to immigration, including one targeting so-called 'sanctuary cities' that 'obstruct the enforcement of federal immigration laws'. Here are the key stories at a glance: Immigration and Customs Enforcement (Ice) officials are seeking out unaccompanied immigrant children in operations nationwide with a view to deporting them or pursuing criminal cases against them or adult sponsors sheltering them legally in the US, according to sources and an Ice document. Read the full story Donald Trump signed two new executive orders on Monday afternoon related to immigration, according to the White House, including one targeting so-called 'sanctuary cities' and another the administration says will strengthen law enforcement. Read the full story The Peace Corps is offering staff a second 'fork in the road' buyout, according to a source familiar with the matter. Allison Greene, the chief executive of Peace Corps, sent an email to staff on Monday with an update about the 'department of government efficiency' (Doge) assessment of the agency. Read the full story Elon Musk and his companies face at least $2.37bn in legal exposure from federal investigations, litigation and regulatory oversight, according to a new report from Senate Democrats. The report attempts to put a number to Musk's many conflicts of interest through his work with his so-called 'department of government efficiency' (Doge), warning that he may seek to use his influence to avoid legal liability. Read the full story Donald Trump's appointees at the Department of Justice have removed all of the senior civil servants working as managers in the department's voting section and directed attorneys to dismiss all active cases, according to people familiar with the matter, part of a broader attack on the department's civil rights division. Read the full story Democrats have warned that cuts to the US's top labor watchdog threaten to render the organization 'basically ineffectual' and will be 'catastrophic' for workers' rights. Elon Musk's Doge has targeted the National Labor Relations Board for cuts and ended its leases in several states. Read the full story Illinois's Democratic governor, JB Pritzker, scorched Donald Trump's administration, calling for 'mass protests' and declaring that Republicans 'cannot know a moment of peace' during a fiery speech in New Hampshire that immediately sparked presidential speculation. Read the full story for four decades has been detained by immigration officials because of a criminal record dating back almost 20 years. golf bosses to host the 2028 Open championship at Donald Trump's Turnberry course after repeated requests from the US president, sources have said. the show's corporate owners as part of a dispute over journalists' independence amid a lawsuit from Trump and attempted sale. Catching up? Here's what happened on .
