LatinNews Daily - 04 July 2025

*Mexico’s Economy Minister Marcelo Ebrard has downplayed the impact on nearshoring and investment in Mexico of US President Donald Trump’s One Big Beautiful Bill, his flagship tax and spending legislation, which was approved yesterday in the House of Representatives following its ratification in the senate. Speaking at President Claudia Sheinbaum’s daily press briefing, ahead of the bill’s approval by the House of Representatives, Ebrard was asked by a reporter whether Mexico could be affected in terms of nearshoring by the legislation which will provide big tax incentives for large companies, making the US more attractive for them to invest in. Ebrard said firstly that it is “very early to tell”, adding that “it’s necessary to see how the legislation will be applied”. He added that “what matters is production – the cost in terms of relative productivity between one country and another”. He went to say that Mexico has a “series of very important advantages in this regard which enables us to be competitive: our productivity, proximity [to the US] and a series of very relevant logistical advantages that we have”. The bill also includes in its final version a 1% tax on remittances sent in cash from the US. Sheinbaum said earlier this week that her government was planning a programme to reimburse the 1% for Mexicans who do send remittances in cash, through the debit card of the welfare financing agency, Financiera para el Bienestar (Finabien).

End of preview - This article contains approximately 237 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial