Overview
- Official INEGI data show light-vehicle production fell 1.46% to 3.71 million units in January–November, exports declined about 1.6% to 3.16 million, and November output dropped 8.4% year over year.
- Mexico’s Chamber of Deputies approved in general higher import duties covering 1,463 tariff lines for countries without trade agreements, targeting Asian suppliers, with changes slated to begin January 1, 2026, pending final approvals.
- Automakers, through AMIA, plan a cautious first half of 2026, pressing to keep zero-tariff access within T-MEC and to remove U.S. Section 232 measures, while signaling no planned plant closures and deferring model moves.
- Citi analysts warn that new tariffs on Asian goods plus a minimum-wage hike will keep 2026 inflation above 4%, lifting input costs and complicating rate-cut prospects.
- Employers expect an “ultra conservative” start to 2026 in hiring, citing tariff uncertainty, the T-MEC review and higher labor costs as reasons to slow staffing plans.