Thursday, August 28, 2025

The charm of San Miguel’s Parque Juárez

By
Sandra Gancz Kahan
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3
(María Ruiz)

The green heart of San Miguel de Allende offers a cherished breath of fresh air and serenity. Even though the walking paths, fountains and gardens of Parque Benito Juárez are always impeccable, a visitor can easily sense they have stood the test of time. This beloved park is a serene retreat where visitors can unwind on its inviting benches, wander along its pathways, or play in its basketball courts and playgrounds. 

One of Parque Juárez’s most striking features is its French flair, typical of the Porfiriato era. This influence can be seen in the wide promenades and ornate fountains that were hallmarks of 19th-century landscaping with decorative wrought iron benches, sculpted hedges and elegant bridges. This design choice reflects the ambitions of the 40-year rule of Porfirio Díaz, which sought to modernize Mexico, including by emulating European aesthetics. To better understand this San Miguel icon, let’s take a look at the history of Parque Juárez, from its origins as a vibrant collection of orchards to its transformation into a beloved public park.

El Chorro, where it all began

(Sandra Gancz Kahan)

Adjacent to the park lies an area known as El Chorro. This historic spot is tied to one of San Miguel’s foundational legends: guided by thirsty dogs, the Franciscan friar Juan de San Miguel is said to have discovered a natural spring here in the early colonial period. This discovery led to the creation of the town of San Miguel el Grande in 1542, named after the friar. Located on the important Camino Real, the town became a key stop along the silver route connecting to Zacatecas.

The De la Canal family, famously wealthy in 18th-century San Miguel de Allende, left their mark on the city through majestic landmarks still standing today. Among their many contributions was the construction of public amenities at El Chorro, including a chapel, restrooms and washbasins known as Los Lavaderos. By harnessing the natural spring, they provided essential services to improve the community’s daily life.

A visionary mayor transforms the city

(Sandra Gancz Kahan)

In 1895, San Miguel mayor Dr. Ignacio Hernández Macías began purchasing orchards with the vision of creating a public recreational space that would also enhance the town’s air quality. This initiative involved careful planning to transform vegetable gardens, once sustained by the springs of El Chorro, into a beautifully landscaped park.

In 1904, the park was officially inaugurated and named in honor of Joaquín Obregón González, Governor of Guanajuato. The park’s design featured trees at the entrances, sculpted hedges and lawns. Decorative walls and columns surrounded the area, while ornately crafted bridges crossed the water stream. A vibrant field of sunflowers encircled an impressive central fountain, which was complemented by two large cisterns installed to ensure a steady water supply in case the natural spring ran dry. In 1917, the park was renamed to honor former President Benito Juárez, a pivotal figure in Mexico’s history.

New features

(Sandra Gancz Kahan)

In 2015, the environmental organization Audubon de México created a pollinator garden within Parque Juárez, transforming a small area into a lush habitat for birds, bees and butterflies. This garden serves not only as a haven for the unsung heroes of the natural world but also as an educational space for visitors. Filled with plants that attract these essential creatures, the pollinator garden demonstrates the types of plants that can be incorporated into homes and schools. The initiative highlights the importance of preserving biodiversity and provides a tranquil spot within the park for nature lovers to appreciate the delicate balance of ecosystems.

Since the 1960s, Parque Juárez has evolved to meet the needs of its community. Jungle gyms were built to provide children playgrounds. While many of the smaller fountains have been preserved, the central fountain was removed to make space for an open-air theater, which was later replaced by basketball courts. The springs of El Chorro eventually dried up, leaving the park’s stream active only during rainstorms. The park’s transformation reflects a balance between honoring its history and adapting to modern needs.

A place for everyone

(Sandra Gancz Kahan)

After marveling at the stunning Parroquia in San Miguel’s main square, a leisurely walk down Calle Aldama is the perfect way to get to Parque Juárez. Known as one of the most beautiful streets in the world, Aldama is a favorite backdrop for selfies and professional photo shoots that capture its stunning charm. At the end of Aldama, you’ll find yourself at the main entrance of Parque Juárez.

Once you arrive, the park envelops you in its own ecosystem, away from the city bustle. The weather feels different here, cooler and more humid among the lush plants and towering trees. The chirping birds perched in the canopy create a soothing symphony.

Parque Benito Juárez may not look the same as it did 100 years ago, but its spirit remains intact. Dr. Hernández Macías’s vision of a place where nature and recreation intertwine continues to thrive. Today, it is a central piece of San Miguel de Allende’s calm community pace. The park invites you to experience the charm and heritage of this enchanting town. As San Miguel continues to grow, the park stands as a reminder of the city’s commitment to preserving its natural and cultural treasures, blending past and present in a welcoming space.

Sandra Gancz Kahan is a Mexican writer and translator based in San Miguel de Allende who specializes in mental health and humanitarian aid. She believes in the power of language to foster compassion and understanding across cultures. She can be reached at [email protected]

Gulf of America? Two can play at that game

By
Sarah DeVries
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64
(Google Earth)

Among many of the shocking changes U.S. President Donald Trump has implemented is one that is downright silly. I speak, of course, of the “renaming” of the Gulf of Mexico as the Gulf of America.

Part of the reason it’s silly is because most U.S. citizens are so bad at geography that they’d be hard-pressed to identify the Gulf on a map.

(Reddit)

So far, it feels like we’re living inside of that irreverent 2004 movie “Team America: World Police.” I frequently double-check the URL when reading the news these days: am I reading The New York Times or The Onion?

But on this, it’s the ridiculous truth. In Mexico, we’ll see the original, internationally-recognized name. But connect to a maps platform in the United States, we’re told, the “Gulf of America” will appear.

I do not support this name change because it is silly and stupid, the equivalent of giving someone a mean nickname and breaking into the school records system to officially change it. But I do feel the need to point out that there are many Mexicans, as well as U.S. citizens, who like to say, “But we’re all Americans!” if someone dare refer to a US citizen as “American.” It’s preachy and annoying, and always induces an eye roll in me. Because look: Mexico is also “The United States of Mexico,” so we literally don’t have a name that’s all our own.

In the meantime, I’ve decided that we in Mexico might as well make some name change suggestions of our own. After all, why stop at the Gulf? Now, if we want a chance of them getting accepted in the U.S., they’d better be in English. Might they ever meet with the kind of tepid acceptance of “freedom fries”? There’s only one way to find out.

(Wikimedia Commons)

Below are some suggestions I’ve come up with while we’ve got the name-changing momentum. Let me know what you think!

First, let’s start with the state names. As many of you surely know, what is now the southwestern region of the United States used to be most of Mexico. I don’t get too excitable about the politics of it since neither country was concerned with Indigenous peoples having rights to their land, but hey: this game is about pettiness, not justice.

Texas, of course, is one of the proudest states around. I saw it reflected in the road signs on my recent trip there: “Slow down, you’re already in Texas!” The story behind the name is that it was the name given to an early Spanish friar by the Caddo, whose homeland was East Texas. Supposedly it was their word for “friend.” There’s some debate regarding the truth of this story, but one thing that’s certain is that Texans pride ourselves on our friendliness. How about “Friendland”?

Florida! I sympathize with Florida because, like Texas, most reasonably smart and concerned citizens there get drowned out by all the much-better-advertised crazies. In Spanish, “florido” means “flowering” or covered in flowers, which is just lovely. So for Florida, here is my proposal: Flowery. It doesn’t exactly roll off the tongue, but we’re going for English-sounding here. It’ll do.

(Canva)

While we’re in Florida, actually, let’s discuss Mar-a-Lago. This is a curious name: in Spanish, “Mar,” is sea; “a” is a preposition that can mean “to” or “at”; and “lago” is lake. As a phrase, though, it sounds awkward without a “de” in front. Anyway, Sea-to-Lake would be its English version. But if climate change keeps going the way it has, we’ll likely be leaving it as “Sea” before long. Hopefully the neighbors are able to retreat before that happens.

Nevada means “snowed upon.” I would love to see something a little more exciting, though… How about Snowyliscious? It’s the home of showy Las Vegas, after all, so it seems like a good name to me. Speaking of Las Vegas… a vega is a meadow. “The Meadows?” It certainly sounds classier, and with name like Snowyliscious, they’re going to need all the help they can get.

Arizona: Arid zone. Well. That is not exciting. I’m having fun jazzing some of these other ones up, so Arizona, you’re next: Please Oh God I Need Some Water is your new name. Congratulations!

Time to move onto some city names now, which will be easier. I promise not to make them too crazy, because we don’t want to lose track, right? Here we go:

(Canva)

Los Angeles: The Angels. This is actually very romantic and I love it. No notes.

San Francisco is Saint Francis. You can also call it Saint Frank. For San Antonio, try Saint Anthony. San Jose can be Saint Joseph.

El Paso: The Pass. This sounds extra foreboding, and I think it would give this city way more street cred. It makes it sound like that place in “The Neverending Story” where Bastion has to go through those sphinx statues with laser eyes.

Alamo is the Spanish word for the poplar tree. There are cities named Alamo, but I think the fort should get this name, too. Remember the Poplar! This is not a bad phrase. We should remember trees!

To the readers who’ve made it this far: this is all a joke, of course. What’s the phrase? We laugh because we can’t cry? Actually, that might just be my own phrase; perhaps the rest of you have healthier coping mechanisms.

Let me know if I missed any jewels in the comments!

Sarah DeVries is a writer and translator based in Xalapa, Veracruz. She can be reached through her website, sarahedevries.substack.com.

When do the jacarandas bloom in Mexico? Earlier than they used to

By
MND Staff
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0
Jacaranda tree blooming in between city buildings.
The jacaranda tree is ubiquitous around Mexico City, where it was first brought to Mexico from South America in the 1930s. These days, it is found in other Mexican cities as well. (Alfonso Aguirre/Unsplash)

Every year, Mexico City residents eagerly anticipate the blooming of the capital’s jacaranda trees, signaling the beginning of spring. Typically, these iconic trees in Mexico’s capital bloom a few days before the spring equinox, but in recent years, they’ve got an earlier start. 

According to Dr. Héctor Benavides Meza, a researcher at the National Center for Disciplinary Research, Conservation and Improvement of Forest Ecosystems (CENID-COMEF), the jacarandas’ early blooming affects their growth and increases their vulnerability to drought, pests and diseases.

Tatsugoro Matsumoto watering plants
Japanese landscape architect Tatsugoro Matsumoto introduced one of Mexico City’s defining symbols — the jacaranda tree, which is originally from South America. (Matsumoto family)

“The jacarandas are warning us of climate alteration and of lower environmental humidity, a situation aggravated by the drought in which we find ourselves,” Benavides explained last year as scientists expressed concerns over the early blooming of the capital’s iconic trees.  

According to news outlet Chilango, blooming jacarandas have already been spotted in some areas of Mexico City’s historic center, including around the Palacio de Bellas Artes, as well as in some areas of the Benito Juárez and Cuauhtémoc boroughs. 

The National Autonomous University of Mexico (UNAM) posted on its official social media channels that early blooming of jacaranda trees reflects a phenomenon known as “early spring,” which UNAM says has been developing over the last 30 years. 

“Today, air and soil are warmer due to the rise of CO2 and greenhouse gases, which advances flowering,” a UNAM infographic explains. 

Early blooming affects other plants, leading to a mismatch with pollinators and reducing fruit and seed production, the UNAM said. However, insects and other pollinators do not depend on jacarandas, since they’re not native to Mexico. 

Jacarandas were brought to Mexico by Japanese immigrant Tatsugoro Matsumoto in the 1930s following a request from President Pascual Ortiz Rubio, who wanted cherry blossoms in Mexico City. Tatsugoro warned that the flower wouldn’t blossom, since winters in Mexico City are not as cold as in Japan.

Instead, he suggested jacarandas, originally from South America.

Through the years, jacarandas have become ornamental trees across Mexico City and other parts of the country due to the vibrant purple color of its flowers.

Follow this map to see jacarandas in Mexico City.

With reports from Chilango

Mexican producers exported over 110,000 tonnes of avocados for Super Bowl guac

By
MND Staff
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2
Avocados Super Bowl 2025
According to a recent analysis by Wells Fargo, consumers in the United States are expected to pay 11.5% more for fresh avocados from Mexico this year. (John Cameron/Unsplash)

The Association of Avocado Producers and Packers Exporters of Mexico (Apeam) said that avocado producers in Mexico sent more than 110,000 tonnes of avocados — equivalent to over 250 million pieces of the green fruit — to the United States for this year’s Super Bowl on Feb. 9. 

This year’s figure is slightly lower than 2024, when Mexican producers sent 130,000 tonnes of avocados.  

Taste of Mexico: Aguacate

Apeam said that avocado exports reflect the efforts of thousands of Mexican workers, including producers, packers and field technicians.

“[The Super Bowl] significantly impacts both the Mexican and American economies,” Apeam told the newspaper La Jornada. “The entire process adheres to the strictest phytosanitary, safety, and quality standards, positioning us as leaders in worldwide avocado production.”

Approximately 80% of the avocados sent to the U.S. are grown in the state of Michoacán.  

“The Super Bowl serves as the avocado’s fiesta because that’s when we all celebrate it,” Héctor Avilés, general manager of Abokados, Mexico’s top avocado packing plant, told ESPN in 2024.

“In Michoacán, [the avocado is] celebrated on that day because there was a lot of work involved in the weeks leading up to it, and in the U.S., because [the avocado] is on people’s tables. I imagine cheese was once the top staple for families who watched the Super Bowl, but we know now that it’s avocados from Michoacán.”

Guacamole
The Super Bowl in the United States is the Mexican avocado’s fiesta, because it’s the day when everyone celebrates it! (Tessa Rampersad)

The export process in Michoacán begins between the end of December and the beginning of January, when crops are ready to harvest. 

In January, producers from Jalisco announced the shipment of approximately 17,000 tonnes of avocados to the U.S. ahead of the Super Bowl. 

Mexican avocados have become a staple ingredient of Super Bowl snack tables, used mainly to prepare guacamole. However, avocados are popular with U.S. households year-round. According to Apeam, the annual consumption per capita of avocado in the U.S. is 4.1 kilograms, making it the largest consumer of avocados worldwide. 

With reports from La Jornada, El Imparcial and TV Azteca

Banxico survey lowers Mexico’s growth forecast for 2025 to 1%

By
MND Staff
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0
Facade of Bank of Mexico building in Mexico City, done in a classical style of architecture with arches, pillars, and balconies at each upper floor window
Mexico maintained its investment-grade credit rating despite the likelihood of an economic downturn. (María Ruiz)

Private sector analysts raised inflation expectations for Mexico for 2025 and lowered GDP growth forecasts to 1% in a new survey by the Bank of Mexico (Banxico) on Tuesday. 

The analysts surveyed decreased their economic growth forecast for the year from a median amount of 1.12% to 1%. Meanwhile, they raised their Mexico inflation forecast for 2025 from 3.80% to 3.83%. 

Closeup screenshot of Mark. R. Thomas, World Bank country director for Mexico, Colombia and Venezuela, speaking to an interviewer. A bookshelf filled with journals and books can be seen behind him.
World Bank Mexico director Mark. R. Thomas has said that Mexico’s water and energy availability problems, plus insecurity and recent constitutional reforms, are making Mexico less attractive to investors. (World Bank/Facebook)

The analysts also said they expect the peso to weaken slightly this year and next in comparison to the U.S. dollar. 

The survey polled 40 analysts between January 23–29, before the announcement of a month-long pause on U.S. tariffs on Mexican goods on Monday. This forecast may be revised depending on whether the 25% tariffs proposed by President Donald Trump on Mexican products are put in place. 

A January Banxico survey had already lowered Mexico’s economic growth forecast for 2025 from 1.20% to 1.12%.

Meanwhile, the World Bank expected Mexico’s economy to grow by 1.5% in 2025, and Cepal — the Economic Commission for Latin America and the Caribbean — pegged Mexico’s growth rate at 1.2%. 

By contrast, Cepal predicted a growth rate of 2.4% for the Latin American region. 

In addition to the potential imposition of tariffs on Mexican goods, analysts blamed several other factors for the pessimistic growth forecast. 

In addition to seeking increased foreign investment, one of Sheinbaum's 13 goals of Plan México is to provide access to finance to at least 30% of small and medium-sized businesses. "We're among the countries with the least funding for small and medium-sized companies," Sheinbaum said.
Mexico is trying to boost Mexico’s growth through President Claudia Sheinbaum’s new Plan México, which she announced last month. It aims to attract outside investment with ambitious infrastructure plans but also support Mexico’s small businesses and expand the regional market for Mexican goods. (Daniel Augusto/Cuartocuro)

Mark Thomas, World Bank country director for Mexico, Colombia and Venezuela, highlighted water availability, energy supply and the cost of land as concerns, as well as insecurity, government policies and constitutional reforms. 

Another factor analysts emphasized was that Mexico is not fully taking advantage of the nearshoring trend.

However, President Claudia Sheinbaum’s Plan México investment strategy, which she announced on Jan. 14, is expected to spur foreign investment in nearshoring activities and drive economic growth across Mexico over the next three years.

The plan aims to create new industrial corridors over all 32 of Mexico’s states, strengthen Mexico’s regional market, and introduce a law to cut Mexico’s amount of bureaucratic red tape, among other investment-friendly initiatives.

With reports from Reuters, Expansión and El Economista

Joining US, Canada designates Mexican cartels as terrorist organizations

By
MND Staff
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17
Prime Minister Trudeau announced the news following a phone call he held with President Trump on Monday, in which both agreed to pause new tariffs for 30 days.
Prime Minister Trudeau announced the news following a phone call he held with President Trump on Monday, in which both agreed to pause new tariffs for 30 days. (Screen capture)

As part of the border security plan it negotiated with the United States on Monday, Canada will designate Mexican cartels as terrorist organizations, prompting criticism from Mexican President Claudia Sheinbaum.

Seeking to avoid U.S. tariffs on Canadian exports, Canadian Prime Minister Justin Trudeau on Monday said he will implement a CAD 1.3 billion (US $900 million) border security plan and launch a joint task force with the United States to combat organized crime, in addition to labeling Mexican cartels as terrorist organizations.

Trump and Trudeau
Friends again? For the next month, at least. (@JustinTrudeau/X)

Sheinbaum took exception to Trudeau’s announcement concerning Mexican cartels during her Tuesday morning press conference.

“We don’t believe that the terrorist designation is helpful,” she said. “There are other forms of cooperation and coordination with respect to our sovereignty that would better assist in combating the fentanyl crisis in the United States.”

Mexico also took steps this week to address its role in the fentanyl crisis in the United States where approximately 107,000 people lost their lives to a drug overdose in 2023.

Peter Navarro, senior trade adviser to U.S. President Donald Trump, lauded Mexico’s efforts to crack down on the influx of fentanyl into the United States, and said that Canada had started to understand that it needed to do more.

“Canada is making new commitments to appoint a Fentanyl Czar, we will list cartels as terrorists, ensure 24/7 eyes on the border, and launch a Canada-U.S. Joint Strike Force to combat organized crime, fentanyl, and money laundering,” Trudeau wrote in a post on X. The Canadian prime minister also signed a new US $200 million intelligence directive on organized crime and fentanyl.

Trudeau’s action against drug gangs follows in the footsteps of the U.S. president who, on Jan. 20, signed an Executive Order designating cartels and other organizations as “Foreign Terrorist Organizations and specially designated global terrorists.”

According to the news agency Reuters, Navarro said that Mexican cartels have been expanding rapidly in Canada, turning Canada into “a leading source of small, duty-free shipments of drugs. 

In addition, Navarro said, Canada must address visa issues that have allowed people on the “terrorism watchlist” to enter the United States.

The actions to bolster border security taken by the respective Mexican and Canadian governments resulted in a one-month delay of the tariffs proposed by Trump.

With reports from El Economista, El Financiero, BNO News, Infobae and Reuters

Sheinbaum receives praise for ‘acing’ tariff negotiations with Trump

By
MND Staff
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7
Praise for Mexico's first female president rolled in on Monday after she announced that she had reached a deal with United States President Donald Trump averting 25% tariffs.
Praise for Mexico's first female president rolled in on Monday after she announced that she had reached a deal with United States President Donald Trump averting 25% tariffs. (Gustavo Alberto/Cuartoscuro)

An “undoubtable triumph” for President Claudia Sheinbaum. The Mexican president is a “very intelligent” politician. Sheinbaum “played it well.”

Praise for Mexico’s first female president rolled in on Monday after she announced that she had reached a deal with United States President Donald Trump that included a one-month postponement of the 25% tariff the U.S. government planned to impose on all Mexican exports starting Tuesday.

Side profile photo of Mexican President Claudia Sheinbaum at a press conference, standing in a parallel position to her admnistration's logo, a illustration in profile of a young Mexican Indigenous woman standing in front of the Mexican flag
Economists, journalists and political scientists praised Sheinbaum’s “intelligent,” “strategic” and “measured” response to Trump’s tariff threats. (Mario Jasso/Cuartoscuro)

At least temporarily, the deal averted a crisis for the Mexican economy, which is heavily dependent on income derived from exports sent to the United States.

As part of the agreement, Sheinbaum agreed to bolster security at the northern border with the deployment of 10,000 National Guard troops “to avoid the trafficking of drugs from Mexico to the United States, in particular fentanyl.”

On his program for the media outlet Latinus, high-profile Mexican journalist Carlos Loret de Mola declared that “the president of Mexico bet and she won.”

“… She got another month, she won time, she won oxygen,” he said.

“… So the countdown begins again. It’s an undoubtable triumph for President Sheinbaum. It’s not easy to face up to the president of the United States, especially when we know he’s a man who knows no limits,” Loret de Mola said.

“The war wasn’t won, but a time bomb was defused, or better said minutes were added to the time bomb’s clock. It didn’t explode,” he said.

Sheinbaum’s management of the looming tariff crisis and the outcome she achieved impressed German Chancellor Olaf Scholz.

“I believe that the president of Mexico is a very intelligent politician,” he told reporters in Brussels on Monday.

“She played it cool,” Scholz said.

On the X social media platform, former Mexican ambassador to China Jorge Guajardo heaped praise on Sheinbaum’s management of the situation.

“President Sheinbaum played it well. Masterfully,” he wrote.

Guajardo, who also represented Mexico as consul general in Austin, Texas, said that Sheinbaum provided an example to other world leaders on how to deal with a tariff threat from Trump.

While the president said that her administration would respond to Trump’s tariff on Mexican exports with “tariff and non-tariff measures” of its own, she kept the details of the plan under wraps, in contrast to the Canadian government.

Lila Abed, director of the Wilson Center’s Mexico Institute in Washington, said that Sheinbaum “has taken a very cautious and strategic approach to the Trump administration.”

Similarly, political scientist Denise Dresser said Monday that the president “kept a very measured tone” after Trump announced his proposed tariffs. Since Trump took office on Jan. 20, Sheinbaum has said she will maintain a “cool head” when dealing with the U.S. government.

Abed, who was quoted in a Reuters report, noted that Sheinbaum has been “taking actions within her government to send a clear signal to the United States that it understands that fentanyl and organized crime are a top priority for the Trump administration.”

Ten thousand National Guard agents were sent to Mexico’s border states on Tuesday morning as part of the tariff deal Sheinbaum negotiated with U.S. President Trump.

In recent months, Mexican officials have stressed that they are already taking strong action against narcotics, touting arrests of high-profile cartel figures and large drug seizures, including the confiscation of more than 1 tonne of fentanyl in two busts in Sinaloa in December.

Kevin Hassett, director of the White House’s National Economic Council, said in a television interview on Monday that “one of the things we’ve noticed is that Mexicans are very, very serious about doing what President Trump said.”

The U.S. president wants more action from Mexico and Canada to stem the flow of migrants and drugs to the United States, and would also like to see a reduction in the United States’ trade deficits with its USMCA trade partners.

Abed described Trump’s pause on his proposed tariff on Mexican exports as a “temporary win” for Sheinbaum, which will be “dependent on her ability to produce immediate results on migration and on security.”

One factor in her favor is that encounters between United States immigration authorities and migrants at the U.S.-Mexico border have declined significantly in recent months.

Referring to the two weeks since Trump took office, White House Press Secretary Karoline Leavitt said in a video message on Monday that “already illegal crossings are down 95%.”

Gabriela Siller, director of economic analysis at Banco Base, warned on Monday that one month is a “very short” period of time, and asserted that it was “certain” that Trump would continue to threaten to impose tariffs on Mexican exports.

However, Sheinbaum said she told Trump that she was “sure that in this month we’ll be able to achieve … good results for your people [and] good results for the people of Mexico.”

Trump said on Monday that he likes Sheinbaum “very much” but stressed that “we have to stop fentanyl from coming in … and we have to stop the illegal aliens from coming in.”

“… They’ve agreed to put in 10,000 soldiers, permanently, like for ever, … at their side of the border and stop fentanyl and illegal aliens from coming in to our country. They have a big incentive to do it,” he said.

“Other than that we’ve agreed to talk and consider various other things. We haven’t agreed on tariffs yet, and maybe we will and maybe we won’t,” Trump said.

While Mexico could still face U.S. tariffs, just four months into her presidency, Sheinbaum succeeded in her first major negotiation with Trump, giving her a feather in her cap and even earning her a round of applause from reporters when she strode into her morning press conference on Monday.

“She has been successful in her negotiation strategy,” Abed said, according to Reuters.

“Her being cautious but at the same time strategic and proactive, in terms of trying to derail tariffs, is something that has been really welcome within Mexico,” she said.

With reports from Reuters and AFP 

Peso stumbles then rebounds after Sheinbaum dodges Trump tariffs

By
MND Staff
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0
Mexican pesos and US dollar bills
The peso appreciated nearly 5% over the course of the day Monday. (Shutterstock)

The Mexican peso strengthened against the US dollar on Monday after United States President Donald Trump agreed to pause his planned 25% tariff on Mexican exports for one month.

The peso depreciated to above 21 to the dollar on Sunday bottoming out at nearly 21.30 early Monday ahead of the planned commencement of the tariff at 12:01 a.m. Tuesday.

However, the peso was trading at 20.35 to the greenback at 4 p.m. Mexico City time, according to Bloomberg, a 4.7% improvement compared to the low it reached earlier in the day.

President Claudia Sheinbaum announced on social media on Monday morning that she had spoken to Trump and reached “a series of agreements” that postponed the imposition of the 25% tariff on Mexican exports to the U.S.

As part of the deal, Sheinbaum agreed to “reinforce” Mexico’s northern border with the immediate deployment of 10,000 National Guard troops.

Trump said that Secretary of State Marco Rubio, Secretary of Treasury Scott Bessent, and his nominee for Secretary of Commerce Howard Lutnick would engage in negotiations over the next month with “high-level representatives of Mexico.”

Analysts with the bank BBVA said on Saturday that “if the 25% tariff prevails, the peso could initially exceed 24 pesos per dollar with a subsequent correction to 23 pesos per dollar at the end of the year.”

Gabriela Siller, director of economic analysis at Banco Base, predicted Sunday that the peso would depreciate to 23 to the dollar with the imposition of the planned 25% tariff on Mexican exports. If the tariff remains in place for “several months,” the USD:MXN exchange rate “could reach new historic maximums,” she wrote on X.

On Monday, Siller noted that the peso had appreciated, but warned that one month is a “very short” period of time, and asserted that it was “certain” that Trump would continue to threaten to impose tariffs on Mexican exports.

The peso hit a near nine-year high of 16.30 to the dollar last April, but depreciated significantly after Sheinbaum and the ruling Morena party’s comprehensive victories at Mexico’s general elections last June.

The peso also weakened after Trump’s victory in the U.S. presidential election, and after his initial threat in late November to impose a 25% on all Mexican exports.

The BBVA analysts said that “if tariffs are avoided, the peso could appreciate to around 19.5 pesos per dollar” and the Bank of Mexico’s benchmark interest rate could fall to 7.5% by the end of the year.

The central bank kept its key rate at a record high of 11.25% for a year between March 2023 and March 2024, a factor that contributed to the strength of the peso against the dollar for an extended period.

However, after five interest rate cuts last year, the Bank of Mexico’s benchmark rate now stands at 10% ahead of its next monetary policy meeting this Thursday.

With reports from El Economista, Reuters and Proceso

Money transfer fintech Wise launches in Mexico

By
MND Staff
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14
A hand holds a green Wise fintech credit card on a blue background
Wise, formerly known as TransferWise, has officially entered the Mexican market. (Wise/Facebook)

International money transfer company Wise announced its official entry into Mexico on Jan. 30 in an effort to tap into the country’s vast remittances market.

The new service will allow Mexican nationals to send money in and out of the country via a fully digital process using Wise’s app or website, where all features are accessible in one place.

In a press release, Wise said its services “are designed for Mexican nationals who need to send money abroad, enabling a transparent, fast and seamless method for international money transfers.”

Beyond offering a more convenient, more affordable and faster way to move money out of Mexico, Wise said it will address the lack of transparency in international payments, referring to it as “one of the biggest challenges in the country.”

According to the news agency Reuters, the new service will strive to address the high hidden fees associated with traditional money transfers.

Efrain Florencia, Wise’s Mexico country manager, said that launching the service in Mexico allows the self-styled global technology company “to disrupt a traditional remittance market by introducing radical price transparency, completely redefining how Mexican nationals send money abroad.”

Abstract image of Mexican peso bills and US dollar bills in a chaotic pile
Wise already supported converting foreign currencies to Mexican pesos. Now, the reverse is also true. (Shutterstock)

Remittances are one of Mexico’s most important sources of foreign currency — the country is the second-largest recipient of remittances globally, according to the World Bank.

Reuters reported that consumers moved around US $168 billion in and out of Mexico in 2024 and Wise believes that could double by 2028.

According to a survey conducted by Wise, Mexicans lost US $446 million in hidden fees when sending money internationally last year. Wise claims banks and other providers in Mexico are concealing up to 10.4% of their costs in hidden fees, which could easily surpass US $500 million this year.

With approximately 37.2 million Hispanics of Mexican origin living in the United States, sending dollars converted into pesos is the third-largest corridor for U.S. customers of Wise, a route that has doubled in the past two years.

At the same time, US $480 million in remittances was sent from Mexico to the United States, demonstrating the importance of this two-way currency route.

“With the potential for further growth, Mexico offers a unique opportunity to serve a large and growing region within Wise’s Americas operations,” the company said.

With the new service, Wise says Mexican nationals will be able to quickly and easily send funds in over 40 currencies from Mexico to 160 countries.

With reports from Reuters and El Financiero

Sheinbaum shares details of her high-stakes call with Trump: Monday’s mañanera recapped

By
MND Staff
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Sheinbaum spent most of her Monday morning press conference detailing her call with Trump regarding tariffs on Mexican goods.
Sheinbaum spent most of her Monday morning press conference detailing her call with Trump regarding tariffs on Mexican goods. (Daniel Augusto/Cuartoscuro)

Applause greeted President Claudia Sheinbaum when she walked onto the stage of the Treasury Hall in the National Palace for her Monday morning press conference.

“You saw the tweet already, right?” the president remarked to reporters, referring to her post on X in which she detailed the agreement she hashed out with United States President Donald Trump that resulted in a one-month postponement of the 25% blanket tariff the U.S. government planned to impose on Mexican exports starting Tuesday.

President Sheinbaum began her Monday morning press conference by asking the audience, “You saw the tweet already, right?”

Sheinbaum spoke with Trump on Monday morning, and as part of a deal to avert the tariffs — at least for now — agreed to deploy 10,000 National Guard troops to Mexico’s northern border.

She held her press conference later than normal due to her dialogue with Trump, appearing in front of the press corps after 9 a.m.

Sheinbaum says she requested a permanent ‘pause’ on tariffs, but settled for one month

With various cabinet ministers seated behind her, Sheinbaum detailed her call with Trump, saying they spoke about “issues of common interest.”

“I told him that we have been working together on migration, that there were results,” she said.

“… And then we spoke about his interest and our interest in reducing the trafficking of fentanyl and other drugs to the United States,” Sheinbaum said.

“He made various proposals and finally we reached the agreement … to put more National Guard troops on the northern border to protect the border and avoid the trafficking of drugs and in particular the trafficking of fentanyl from Mexico to the United States,” she said.

Sheinbaum Feb. 3, 2025
On Trump’s insistence on the issue of a trade imbalance with Mexico, Sheinbaum told him, “It isn’t really a deficit … this is the result of being trade partners.” (Daniel Augusto/Cuartoscuro)

Sheinbaum also said she expressed Mexico’s concerns about the large number of firearms that enter Mexico illegally from the United States. She said she asked for the United States’ help to stem the flow of the weapons and Trump agreed to her request.

“And finally he insisted on [raising] the issue of the trade deficit the United States has with Mexico, according to his perspective,” Sheinbaum said.

“I told him that it isn’t really a deficit, that we have a trade agreement and that this is the result of being trade partners. And [I told him] that in any case [the USMCA] is the best way to continue competing against China and other [countries], other regions of the world,” she said.

Sheinbaum said she also spoke about the trade deficit “per capita, which changes the scenario a little bit” given that the United States has a much larger population than Mexico.

She said Trump asked her how long she wanted him to put his proposed tariff “on pause.”

“I said to him, ‘Well, let’s put it on pause for good.’ But he said, ‘How long?'” Sheinbaum said.

Sheinbaum Feb. 3, 2025
Sheinbaum said she also spoke about the trade deficit “per capita, which changes the scenario a little bit” given that the United States has a much larger population than Mexico. (Daniel Augusto/Cuartoscuro)

“I said, ‘OK, let’s put it on pause for a month and I’m sure that in this month we’ll be able to achieve results, good results for your people, good results for the people of Mexico,'” she said.

“And this was the result of the agreement. So it was a good conversation within the framework of respect and this is the news we have,” Sheinbaum said.

Mexican and US officials to collaborate closely on security and trade 

Sheinbaum said that Trump accepted her proposals for Mexican and U.S. officials to work closely together on the issues of security and trade.

“It’s about collaborating, as we have always said, coordinating, without losing sovereignty,” she said.

“… And he agreed in putting together this working group to come up with a plan of action within the framework of our sovereignties,” Sheinbaum said, referring to cooperation on security issues.

“And in the case of trade, I put the same proposal to him: ‘Why don’t we get the Economy Minister of Mexico and your Commerce Secretary to work together,'” she said, expressing confidence that they could resolve differences in the bilateral trade relationship.

“He agreed,” Sheinbaum added.

She noted later in the press conference that there will now be three “high-level” bilateral working groups, with the establishment of those focused on security and trade coming after the formation of one focused on migration.

“At the migration table, we speak about the defense of Mexicans in the United States,” said Sheinbaum, whose government is opposed to Trump’s mass deportation agenda but has developed a plan to assist immigrants sent to Mexico from the U.S.

Sheinbaum thanks business groups, companies, lawmakers and others for support amid tariff threat

A reporter noted that a large number of people spoke out against Trump’s proposed tariff on Mexican exports, including executives of United States companies and authorities in some U.S. states.

A video sharing all of the letters of support received by Sheinbaum following Trump’s threats of tariffs on Mexican exports.

“I want to say thank you because the truth is that the number of people, companies, business chambers and communities that came out in defense of Mexico and in support of the presidenta was overwhelming,” Sheinbaum said.

“And the truth is that provides a lot of strength when one sits down to speak with the leader of another country, particularly that of the United States,” she said.

Sheinbaum noted that she received ample support in Mexico, including from the National Governor’s Conference, deputies and senators, and “practically all the business chambers,” among others.

“And in the United States, a lot of people came out to speak — politicians, governors, members of Congress — to say ‘the tariffs don’t make sense,’ and also a lot of United States companies came out to say ‘this isn’t a good idea,” she said.

By Mexico News Daily chief staff writer Peter Davies ([email protected])

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