US-grown corn threatens Mexican crop heritage

US-grown corn threatens Mexican crop heritage

Nov 20, 2017

US President Donald Trump has vowed to make the North American Free Trade Agreement better serve US interests, but Mexicans are concerned that cheap US imports are destroying Mexico’s cultural relationship with its traditional maize varieties. Negotiators from the US, Mexico and Canada are in Mexico City to discuss the North American Free Trade Agreement, known as NAFTA. In this fifth round of talks, one of the big issues on the table is corn. It is Mexico’s top agricultural import from the US. But some say cheap American varieties are damaging Mexico’s rich and various maize heritage. Source: Al...

First Chevron station now open in Baja California Sur

First Chevron station now open in Baja California Sur

Nov 19, 2017

The  multinational energy firm Chevron opened its first gas station in Baja California Sur, Mexico. Their first gas station started operations last August in Hermosillo, Sonora, adding to the competition in a formerly monopolized market. Supplied by state oil company Pemex, Chevron’s fuel is more expensive than that of Pemex stations and up to 60% higher than in the United States. However, that didn’t deter motorists with long lines of vehicles seen waiting to fill up at the new station on its opening day. A price comparison by the newspaper El Universal found that Chevron’s prices are slightly above those at Pemex with a liter of premium fuel selling for 17.79 pesos (US $0.99) while a liter of regular fuel costs 15.99...

NAFTA demise would not be devastating, Mexico says

NAFTA demise would not be devastating, Mexico says

Nov 17, 2017

MEXICO CITY (Reuters) – Mexico’s economy minister said on Thursday he did not agree with statements made by U.S. Commerce Secretary Wilbur Ross that it would be devastating for Mexico if the United States pulls out of the North American Free Trade Agreement (NAFTA). “No, I don’t think so,” Ildefonso Guajardo said in a television interview when asked if he agreed with Ross. “Without a doubt, Mexico could face a short-term impact because the market is very sensitive to marketing, branding … Our ability to adjust, and the manner in which we do it, is what will allow us to resist any potential change.” In an interview with The Wall Street Journal CEO Council on Tuesday, Ross said that it “would be devastating to the Mexican economy” if the United States were to pull out of NAFTA. Mexico is preparing a package of macroeconomic measures to help withstand a short-term shock if the United States pulls out of the pact, Foreign Minister Luis Videgaray said earlier in the week. Guajardo said that if NAFTA talks, which are currently in their fifth round in Mexico City, do end up stretching into March, the United States must ask itself if it wants the trade talks to influence Mexico’s July 2018 election. The fifth round of NAFTA talks entered their second day on Thursday, proceeding under the shadow of tough U.S. demands and without the presence of trade ministers who agreed to sit out the discussions. A schedule seen by Reuters showed that negotiators will discuss one of the most contentious issues over the four final days, beginning Saturday. In October, the United States proposed that a revamped NAFTA should set a 50 percent minimum U.S. content requirement for autos, as well as raise regional content to 85 percent from the current 62.5 percent. The four days of talks on rules or origin compare to three in the initial schedule for the previous round in Washington. Mexican Economy Minister Ildefonso Guajardo delivers a speech during the inauguration of the IP Statistics for Decision Makers (IPSDM) Forum in Mexico City, Mexico, November 14, 2017. REUTERS/ Edgard Garrido Labor, and cross-border trade in services (CBTS) will both be discussed...

Trilateral Statement on the 5th Round of NAFTA Negotiations in Mexico City

Trilateral Statement on the 5th Round of NAFTA Negotiations in Mexico City

Nov 15, 2017

Mexico City, Mexico – NAFTA Chief Negotiators confirmed today that although the 5th Round of NAFTA negotiations will formally begin on November 17th, some negotiating groups will begin meeting on November 15th. Nearly 30 negotiating groups will be meeting during the 5th Round, which will conclude on November 21st. The three NAFTA Ministers agreed at the end of Round 4 to allow more space between rounds, in order to provide negotiators with enough time to analyze the proposals that all three countries have tabled so far and to conduct internal consultations. In addition, NAFTA ministers met separately at the Asia Pacific Economic Cooperation (APEC) Leaders Meetings in Da Nang, Vietnam, and instructed NAFTA Chief Negotiators to focus on advancing discussions on tabled proposals as much as possible. Given the substantive discussions held between Ministers at APEC, Ministers agreed not to attend the 5th Round so negotiators can continue to make important progress on key chapters advanced in Round 4. Chief Negotiators from Mexico, United States and Canada will be in constant communication with their respective Ministers and will report on the progress reached in this round.       Oficina de Prensa Embajada de los Estados...

11-11 Chinese Singles’ Day: online shopping madness goes global

11-11 Chinese Singles’ Day: online shopping madness goes global

Nov 11, 2017

HANGZHOU — Eight years after the first Singles’ Day promotion, the Chinese shopping festival has become a global retail event. Buyers and retailers are getting ready for this year’s shopping extravaganza which falls on Saturday. Chinese e-commerce giant Alibaba said over 15 million types of goods from 140,000 brands will be available through its Tmall shopping platform. The company said luxury brands, retail giants from the United States and Australia, and millions of Chinese retailers will join the promotion this year. Stadium Goods, a New York City-based marketplace that sells footwear and other apparel, said it began preparations for the promotion one month in advance. Its Singles’ Day sales target is 2 million U.S. dollars, said John McPheters, founder of the company. In 2016, Alibaba’s Singles’ Day sales totalled 120 billion yuan (about 18 billion U.S. dollars). A third of the sales come from global brands and retailers, the company said. November 11 has been celebrated as Single’s Day since the 1990s. The date was chosen because 11-11 resembles four “bare sticks,” the Chinese term for bachelor. Alibaba introduced the Single’s Day shopping event in 2009 and it has grown to become known as the Chinese version of the U.S.’s Black Friday sales. Chinese buyers have started to add their chosen goods to shopping carts in the countdown to midnight when promotions begin. Overseas buyers are also participating in the world’s biggest retail event. According to figures from AliExpress, the company’s outbound platform, it has 60 million active buyers in 220 countries and regions in 2017. On a daily basis, over 20 million people use AliExpress to make purchases online. In Russia alone, there are about 22 million online buyers, the company said. Russian buyer Anastasia Igumnova bought her smart-phone and kitchenware through AliExpress. “It is quite convenient to use the website. I bought a nail clipper, and was surprised that I did not have to pay postage fees,” she said. “E-commerce platforms have become an important way for trade on a global scale. An increasing number of buyers, not only in China, but also around the world, are making purchases online,” said Shen Difan, general manager of AliExpress. Another Chinese e-commerce giant, JD.com,...

Inflation in Mexicali decreases in the month of October

Inflation in Mexicali decreases in the month of October

Nov 10, 2017

Inflation in Mexicali decreased slightly during the month of October, registering 7.31% in its annualized level, while last September the indicator was placed in 8.10%, according to data from the National Institute of Geography and Informatics (Inegi). However, when comparing the monthly inflation of 2017 against that of 2016, it is observed that it continues at a high level, since it was 2.79% in the same period last year . The main products or services that drove the prices upwards are: LP domestic gas, gasoline, automobiles, snack bars, inns, tortillerías and taquerias, chicken, bottled soft drinks and beef. At the national level, the indicator was 6.37%; greater than 3% in October 2016. Tijuana In Tijuana, inflation was 7.42%, higher than the 3.8% of last year; with respect to last September, the registry does not notice a change since it remained at 7.49%....