Mexico in April 2026: the most important developments in economy
Mexico's economy in April 2026 centred on energy, above all a possible push into unconventional gas. Mexico explored the option while facing regulatory hurdles and environmental concerns, and the Pemex director said the country had not taken advantage of its natural gas resources. On April 15 President Claudia Sheinbaum formed a scientific committee to study unconventional gas extraction, and on April 16 a second committee to study fracking. Pemex also faced problems: the US demanded $2.5 billion the state oil company owes suppliers, fires broke out at the Olmeca and Dos Bocas refineries and a minor incident was reported at Tula. Reports said Pemex faced international sanctions over an undisclosed oil spill in the Gulf of Mexico linked to an undersea pipeline. Washington and the European Union each pressed Mexico to open its energy sector, and the US accused Mexico of shutting out US energy companies.
Trade with the United States was the second theme. The US said it expected the USMCA trade agreement to stay in place, with separate protocols for Canada and Mexico, while Commerce Secretary Howard Lutnick said the deal needed to be reconsidered. Mexican companies were warned that Trump tariffs would remain in place after the USMCA review, and Mexico pushed for zero tariffs. Sheinbaum prepared for the talks with a new economic team. Chinese car imports dropped steeply under Mexico's new tariffs even as overall car sales surged, and China boosted investment in Mexico.
In business and prices, Telefonica sold its Mexican business for 390 million euros, and Flex announced a $1 billion investment. A Canadian court ordered Mexico to pay $270 million to Oro Negro in a dispute over oil services contracts. Mexico's central bank cut interest rates as inflation eased, and Fitch affirmed the BBB- rating with a stable outlook. More than 8,000 gas stations were found to violate the diesel price cap; Sheinbaum criticized a rise in tortilla prices and announced deals on steel and lower diesel prices. Carlos Slim sold $500 million of US oil stocks.
by WorldBrief & Maksim Micheliov | AI-generated summary
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