S&P Global Ratings cut Mexico\u2019s outlook to negative, citing fiscal strain and rising downgrade risk. In addition, All 27 EU countries just approved the modernized Mexico-EU trade deal and Mexican agri-food is the first winner.<\/p>\n
Ready for more? Here is your weekly roundup!<\/p>\n
S&P Lowers Mexico Outlook, Warns of Downgrade Risk<\/a><\/p>\n S&P Global Ratings\u00a0revised<\/a> Mexico\u2019s credit outlook from stable to negative, citing persistent fiscal weakness, rising debt levels and stagnant economic growth. While the agency reaffirmed the country\u2019s long-term foreign-currency sovereign credit rating at \u2018BBB,\u2019 two notches above speculative grade, the outlook revision reflects mounting concerns about the government\u2019s ability to reduce its fiscal deficit.<\/p>\n Sheinbaum Signs Decrees to Fast-Track Business Approvals<\/a><\/p>\n The government also established a single point of entry for foreign trade operations through a Unique Foreign Trade File, allowing companies to submit documentation once and track permits, licenses, and authorizations in one place.<\/p>\n Mexico-EU Deal Opens 450-Million-Person Market<\/a><\/p>\n Mexico’s agricultural and agroindustrial sectors are set for an immediate tariff elimination on exports to a 450-million-person market, as all 27 European Union member states approved the modernized Mexico-EU trade agreement on May 11, 2026, clearing the way for a formal signing on May 22 in Mexico City,\u00a0 the first bilateral summit in 11 years.<\/p>\n Mexico, South Korea Agree to Formal Trade Framework<\/a><\/p>\n President Claudia Sheinbaum and South Korean President Lee Jae Myung spoke by phone on May 13, agreeing to strengthen bilateral relations and expand economic, commercial and cultural cooperation between the two countries, a call that comes as South Korea pushes to protect its companies ahead of the USMCA review and as bilateral trade remains structurally imbalanced in Seoul’s favor.<\/p>\n Mexico, France Strengthen Customs Cooperation<\/a><\/p>\n Mexico’s National Customs Agency (ANAM) and French embassy officials held a working session to advance bilateral customs cooperation, covering modernization, real-time information exchange, trade facilitation, and the fight against smuggling and illicit substance trafficking, a meeting that also placed the upcoming Mexico-EU trade agreement on the agenda.<\/p>\n US Tariff Refunds Begin; Mexico Supply Chains React<\/a><\/p>\n The first wave of tariff refunds reached US businesses’ bank accounts on May 12, US Customs and Border Protection (CBP) confirmed, as the Trump administration faces mounting legal setbacks over its trade policy. More than 330,000 importers paid US$166 billion in tariffs collected under the\u00a0International Emergency Economic Powers Act (IEEPA)<\/a> before the Supreme Court ruled 6-3 in February that the administration had exceeded its authority. As of April 26, at least 75,000 businesses had applied for refunds through CBP’s online portal, which launched last month.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"S&P Global Ratings cut Mexico\u2019s outlook to negative, citing fiscal strain and rising downgrade risk. 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