The US exerts bully pulpit on Mexico

MXPE Weekly Essentials ft. the state of refineries, and other highlights in Mexican politics, policy, and markets from the past week.

MXPE Weekly Essentials. Only the most important news in Mexican politics, policy, and markets from the past week.

Last week’s highlights:

• Forced friends—Mexico and Ecuador are being leaned on to work together despite having broken diplomatic ties. The pressure is being exerted by the US in order to track light boats allegedly used for drug smuggling. The diplomatic balancing act is particularly delicate for the Sheinbaum administration, which called in the US Ambassador in Mexico City to explain the recent attacks on these small vessels by the US military in Mexican territorial waters.

• Truck tariff—As 25% tariffs on medium and heavy trucks imported to the US come into force, Mexico will be particularly badly hit—80% of the trucks imported into the US are Mexican made. The US only imports about 1% of the total trucks it consumes.