The Mexican Ministry of Economy gave its interpretation of how to implement the core piece, the central parts and the rules of origin of the USMCA. To begin with, the USMCA in its Appendix 4-B to Chapter 4 establishes new and more stringent rules of origin for automotive
World trade in commercial services remained sluggish in the first quarter of 2021, falling 9% year-on-year, after registering a 21% decline for the full year of 2020 due to continued weakness in travel services, according to data from the WTO. Unlike merchandise trade, commercial services trade has recovered
Alpek completed the acquisition of a state-of-the-art PET pelletizing and recycling plant in Pennsylvania, United States. With this, the company aligned itself with its long-term strategic pillar of “Fostering a Circular Economy”. This transaction reaffirms Alpek’s position as the largest PET recycler in America and will allow the
The Mexican company Gruma invested 63 million dollars in the second quarter of 2021, mainly in Spain and the United States. During the quarter, the main projects were: Construction and increase of production capacity in the new tortilla plants in Indiana and Spain. Wastewater treatment systems at the
The price of diesel increased 9.0% year-on-year in Mexico during the first quarter of 2021 and will continue to grow in the short term, projected GMéxico Transportes (GMXT). Until 2016, the Ministry of Finance and Public Credit (SHCP) set the price of gasoline below the cost of production
In a recent analysis, the OECD warned about the effects that countries may have for granting support to zombie companies. Zombie companies, as they are often called, are companies that would have defaulted in a normal business cycle, but continue to operate due to an ultra-low interest rate