King Felipe VI shakes hands with Indigenous members of Mexico's tourism delegation at FITUR 2026 in Madrid. (Casa Real de España)
Mexico’s delegation at FITUR 2026, one of the world’s largest tourism fairs, welcomed some very special guests on Thursday: Felipe VI and Letizia, king and queen of Spain.
The monarchs visited Mexico’s pavilion at FITUR, hosted in Madrid this year, following their inauguration speech. They were greeted by Mexico’s Tourism Minister Josefina Rodríguez Zamora, Mexico’s Ambassador to Spain Quirino Ordaz, as well as other Mexican officials and cultural representatives.
King Felipe VI and Queen Letizia of Spain visited the Mexico FITUR delegation on Thursday after the king’s inauguration speech. (Casa Real de España)
For the fair’s 46th edition, Mexico has been featured as FITUR’s partner country, presenting a historic program that includes tourist destinations in all 32 states. Boasting the largest stand space in the America’s section, Mexico aims to speak to a global tourism market by emphasizing the essence of Mexican culture.
During her Thursday morning press conference, President Claudia Sheinbaum referred to the monarch’s visit to Mexico’s pavilion as “symbolic.”
“They were accompanied by representatives of the Indigenous communities. It’s symbolic,” Sheinbaum said. “It seems symbolic that the king and queen of Spain have come to recognize the Indigenous peoples of today [at FITUR] … We will insist on the importance of this recognition, because it heals wounds.”
The monarchs greeted the large Mexican delegation on a stage decorated for the occasion and reportedly showed great interest in Mexico’s proposals during a friendly conversation with Mexican officials.
The Spanish royals have not had contact with Mexican officials since 2019, when former President Andrés Manuel López Obrador demanded an apology in 2019, for abuses faced by Indigenous peoples during the conquest of Tenochtitlán in 1521, preceding to Spanish colonization.
Spain “vigorously” rejected the request. While economic, social and cultural ties between the two countries run deep, political ties turned frosty after the falling out.
Meanwhile, Tourism Minister Rodríguez said she appreciated the royal’s appearance at Mexico’s pavilion amidst the tragedy that recently hit the country after a passenger train derailed in the province of Córdoba, killing dozens of people.
“I was deeply grateful that they came to visit us in spite of this situation,” she said. Rodríguez told the king and queen about the role the Indigenous communities play in Mexico’s tourism industry, she said, and how tourism can be “a source of prosperity for communities.”
Building in Mexico might seem like a cheap and easy option, but beware these pitfalls! (Pervez Robin/Unsplash)
For many people considering property in Mexico, one of the first questions is whether it makes more financial sense to build a home from scratch or buy an existing one. On paper, building often appears to be the less expensive option. Labor costs are lower than in the United States or Canada, and construction estimates per square meter can look appealing when compared to the asking prices of finished homes.
In practice, the decision is rarely straightforward. While building can be cheaper in certain circumstances, real-world experience shows that unexpected costs, delays and disputes are common. Buying an existing home, by contrast, often offers greater predictability, but it is not without its own risks.
Which decision will be right for you? Well, it depends… (John Kakuk/Unsplash)
Why building looks cheaper on paper
Early comparisons typically focus on construction cost per square meter versus the sale price of completed homes. This approach leaves out a range of expenses that tend to emerge only once a project is underway.
One of the most common surprises involves site preparation. A lot may appear ready to build, only for excavation to reveal extensive rock, large stones or unstable soil. Removing rock or cutting into bedrock requires specialized equipment and additional labor, costs that are rarely included in initial estimates. In several projects, unforeseen site preparation has added weeks to construction timelines and significantly increased overall budgets.
Land services are another frequent source of unexpected expense. Buyers may assume water and electricity connections will be simple, only to discover that trenching, transformers, permits or negotiations with neighbors are required. In some cases, fees are collected for services that are delayed or never fully provided, leaving buyers to resolve issues after construction has already begun.
Disagreements over finishes are also common once a budget is set. Initial estimates often assume basic finishes, while buyers expect higher-quality materials once construction is underway. Tile, cabinetry, windows and fixtures that appear standard to a contractor may not meet a buyer’s expectations. Resolving these differences usually means upgrading materials mid-project, which can quickly push costs beyond the original budget and create tension between owners and builders.
Design and permitting can introduce further complications. A project that appears simple may require revisions to comply with local regulations or structural requirements. While permit fees themselves are typically modest, delays during this phase can halt progress for months. During these pauses, material prices may increase and contractors may take on other work, extending timelines even further.
(DMAS/Facebook)
Time is often the most underestimated factor. Construction schedules frequently extend beyond original projections due to weather, holidays, labor availability and supply delays. In some cases, projects expected to take less than a year extend far beyond that. During this time, funds are tied up in construction while owners may continue paying rent or maintaining another property.
The advantages and limits of buying an existing home
Buying an existing home might involve a higher upfront price, but it offers clarity. The purchase price is known, utilities are already connected and permits are in place. The property can be evaluated as a complete package before committing to the purchase.
However, buying a finished home does not guarantee the absence of surprises. Hidden defects such as drainage problems, aging electrical systems, plumbing issues or structural concerns may not be immediately visible. Even with inspections, some problems only become apparent after living in the home through different seasons or weather conditions.
Renovations, if needed, are typically easier to plan than a full build. Even major remodels tend to have clearer scopes and timelines. Improvements can often be completed in phases, allowing costs to be spread over time. In many cases, owners can live in the home while renovations are underway.
So which option makes sense?
Building can be deeply rewarding when done well. Buyers who work with a well-respected architect and a proven construction team — particularly professionals experienced in working with foreign clients — often report positive outcomes. Clear contracts, detailed specifications and realistic budgets can significantly reduce misunderstandings. Many people have built homes in Mexico that meet or exceed their expectations and are genuinely thrilled with the results.
At the same time, building requires patience, involvement and a tolerance for uncertainty. Buying an existing home generally offers a faster path to occupancy, but it does not eliminate risk. Hidden defects and unforeseen repairs can still arise.
The more useful question is not whether building or buying is inherently better, but which approach aligns best with a buyer’s expectations, risk tolerance and level of involvement. Both paths can lead to excellent results when approached with realistic assumptions and the right professional support.
Glenn Rotton is a real estate agent with eight years of experience in San Miguel de Allende. Originally from Seattle, he has lived in Mexico for twelve years with his husband, Kiang Chong Ovalle, and their dog, Angus. Read more about Glenn here.
However you get there, Orizaba is worth the trip. (Orizaba Travel)
It’s not often that a city in Mexico gets nationally touted for its cleanliness, fresh air and aerial cable cars that overlook its tangled avenues and mountains looming in the near distance. And even rarer is when a mid-sized city gets designated as a Pueblo Mágico — a denomination typically reserved for Mexico’s quaintest locales.
But in Orizaba — the Pueblo Mágico nestled on the eastern foothills of the Sierra Madre Oriental mountain range in Veracruz — maintaining a pristine appearance has fueled a cultural renaissance in the city’s image and appeal, transforming it from a former industrial center into one of the state’s most celebrated and frequently visited gems.
What to see and do in Orizaba
Tourist-friendly Casavegas is home to a dinosaur-themed park, among other historically-oriented attractions. (Orizaba Travel)
With an impressive array of group activities — which includes unusual attractions like riding a funicular down a hillside, touring a dinosaur-themed park and wandering the château-like grounds of a museum dedicated to Cri-Cri (the stage name of a famous Mexican singer-songwriter of beloved children’s songs) — there’s plenty to keep visitors and locals busy year-round. Add to that a notable cafe and culinary scene known for its provincial dishes and locally-sourced coffee and you’ll begin to understand why Orizaba has become a road trip-worthy destination in recent years. It’s also why I chose to venture there with my family to begin the New Year.
Despite its altitude, Orizaba sits in a lush valley in the shadow of Pico de Orizaba, an active volcano and the tallest mountain in Mexico (ranking as the third-highest summit in all of North America). The region boasts moderate weather year-round, though it is known to get heavy rains from May to October. If possible, avoid going on weekends and holidays, since it gets slammed by Mexican visitors escaping the nearby metros of Veracruz and Puebla.
History and a cleaned-up reputation
Whenever I tell the older Mexican generation about my interest in the city, they give me a funny look, as if to say, “Why would you waste your time visiting there? There’s nothing.” My father — a Xalapa native who used to travel all over Mexico in the 1960s and 1970s before I was born — once told me that I should completely skip going there. When I told him that it’s now a point of interest with a cleaned-up reputation, he wasn’t convinced. So I took him along for the trip with my son and wife; needless to say, he’s now a believer.
Orizaba has pre-Colombian origins, with traces of the Toltecs, Chichimecas and Mexicas. The Indigenous name for the land was Ahuaializapan, or “Pleasant Waters.” In the late 16th century colonial period, it grew into a strategic settlement en route to Puebla and Mexico City before officially becoming a municipality in 1830. During that era, Orizaba and its surrounding areas became a national epicenter of textile factories and tobacco production.
In 1764, the Spanish monarchy monopolized tobacco growth and declared Orizaba and nearby Córdoba as among the few places allowed to grow it in all of New Spain. Wealth and prosperity blossomed for Orizaba during this period, before it fell into a post-Revolution decline, when many of the region’s major sources of wealth were disrupted.
Orizaba’s working-class roots
At its core, Orizaba’s identity became one of working-class industrialism, at one point becoming the temporary headquarters for Casa del Obrero Mundial (House of the World Worker), a socialist organization founded in Mexico City.
The Atalaya de Cristal lookout on Cerro del Borrego offers spectacular views of Orizaba. (Orizaba Travel
Orizaba was also the site of the Rio Blanco Strike in 1907, when workers led a riot against the owners of a textile factory in the nearby town of Rio Blanco. It ended with national military intervention and the death of at least 18 protesters.
An Art Nouveau legacy
Nowadays in Orizaba, you won’t see any overt traces of these social uprisings. Instead, you’ll find the charming architecture of Mexico’s Art Nouveau past. It has all been restored and well-maintained thanks to the vision of current mayor Juan Manuel Diez Francos, who served three non-consecutive terms as mayor and who began Orizaba’s reclamation during his first term in 2007.
Diez’s orizabeño evangelism yielded an invigorated, modernized city filled with quirky offerings: He oversaw the installation of a teleférico — a sky tram that opened to the public in 2013. It is currently Mexico’s highest and third-longest teleférico — according to the enthusiastic guide who greets you upon landing at the summit of El Cerro del Borrego, where vistas await on every side. But be warned: on weekends and holidays, expect waits of up to two hours. The 15-minute ride glides above the town’s bustling core, with various roofs displaying gorgeous murals.
Culinary offerings in Orizaba
The regional foods — especially its coffee — are tremendous draws too. Carlos Iván Spíndola — better known as Perrito Barista, a social media foodie and influencer with 45,500 followers on Instagram whose content centers on Veracruz’s coffee culture — recommends places like Fidelio, a hip, youthful espresso bar and restaurant with a terrace view of the nearby church. Its trendy offerings include poche toast (housemade bread topped with spinach, garlic, arugula and cheese au gratin and then crowned with a perfectly poached egg), strawberry cream matcha and horchata con café.
On Orizaba’s main pedestrian thoroughfare, one can find a bustling strip of businesses, cafes and hotels in the center of town that leads directly to an extravagantly-sized park dedicated to Francisco Cabilondo Soler (the real name of the above-mentioned Cri-Cri) that would rival Mexico City’s finest.
A block away from this plaza awaits Aborigen Cocina de Brasa, a wood-smoked steakhouse that prides itself on regional flair. I suggest the tacos orizabeños — two bean-layered corn tortillas generously piled with grilled chicken and pumpkin. The American-style pork brisket and black pastor, a Yucateco take on tacos al pastor that uses black chile paste, is also impressive. And don’t leave Cocina de Brasa without trying the cochinta pibil: a smoky, spicy heap of tenderized pork mixed with thick adobo and pickled onions served on a fresh banana leaf.
Designed by Gustave Eiffel of Eiffel Tower fame, Orizaba’s Palacio de Hierro is a popular attraction for visitors. (Orizaba Travel)
Across the walkway from Aborigen, snag a dessert and post-meal espresso at Hêrmann Thômas Coffee Masters, one of the state’s better-known coffee makers, hailing from nearby Cordóba. Bonus points if you add an affogato carajillo cocktail to the mix, served with a scoop of housemade dulce de leche ice cream.
A magical portal
To be sure, Orizaba has yet to reach international mainstream acclaim at the levels of Mexico’s other most popularly visited Pueblos Mágicos. But it has certainly accrued recognition, particularly among Mexican nationals and expats in the know, which can mean everything there is absolutely packed during the peak season between November and March, especially on weekends.
Orizaba is, as the Mexican government has deemed, a magical portal through which one might better understand Mexico’s beauty. It’s an ideal mix of the country’s glorious past overlaid with the promise of Mexico’s evolving present and future, framed by a sublime backdrop of sierras and flowing waters.
In and of itself, the calm scenery beckons an escape from the chaos of daily life in Mexico’s larger and dirtier cities. In Orizaba, you can unwind, eat plentifully and sightsee (the tigers and alligators prowling the city’s well-kept riverwalk inside a free, open-air zoo had to go unmentioned), all while remaining in a buzzy downtown that is fresh-aired. Perhaps other cities in Mexico can look to Orizaba as a blueprint for revitalization and boosting the local economy. I, for one, would welcome it with open arms.
Alan Chazaro is the author of “This Is Not a Frank Ocean Cover Album,” “Piñata Theory” and “Notes From the Eastern Span of the Bay Bridge” (Ghost City Press, 2021). He is a graduate of June Jordan’s Poetry for the People program at UC Berkeley and a former Lawrence Ferlinghetti Fellow at the University of San Francisco. His writing can be found in GQ, NPR, The Guardian, L.A. Times and more. Originally from the San Francisco Bay Area, he is currently based in Veracruz.
Visitors to the Formula 1 Exhibition can virtually drive F-1 cars, among other activities. (F1 Media)
Long a hub of Formula 1 passion thanks to its sold-out Grand Prix every fall, Mexico City will get an early burst of speed this year when the massive Formula 1 Exhibition opens March 20 in the capital.
The interactive showcase — which has been extremely popular in previous stops from Madrid to Melbourne to Buenos Aires — will make its Latin American return in Mexico City, the ninth host city worldwide, according to Formula1.com.
The exhibit also features numerous Formula 1 artifacts, such as this undersized but powerful engine. (F1 Media)
The exhibition will be at Yama Punta Museo, an automobile-themed museum on the third floor of an upscale residential/retail complex in the southern Mexico City borough of Coyoacán.
“Since Formula 1 Exhibition’s debut in Madrid in 2023, the show has gone from strength to strength to attract over 1 million visitors,” said Emily Prazer, Formula 1’s chief commercial officer. “Mexico City is a vibrant cultural hub with a true passion for motorsport, so it made perfect sense for it to be the next stop on the Latin American tour.”
The city has embraced Formula 1 as one of its biggest annual spectacles.
Held each fall at Autódromo Hermanos Rodríguez, the Mexico City Grand Prix has sold out every year since rejoining the calendar in 2015. Attendance is roughly 400,000 across the full race weekend, with around 150,000 on race day.
This year’s race on Sunday, Nov. 1 — with three free practice sessions plus qualifying on Oct. 30-31 — will see local favorite Sergio Pérez compete with F1’s newest team, Cadillac.
The exhibition at the museum 10 kilometers away will feature six immersive galleries across 2,000 square meters, including Pit Wall, a cinematic look at F1’s most unforgettable moments; Design Lab, an insider’s view into race car engineering; and Drivers & Duels, chronicling the sport’s historic rivalries.
A special room will honor Mexico’s racing legacy and pay homage to Pérez, a Guadalajara native who started in Formula 1 in 2011 and drove for Red Bull Racing from 2021 to 2024.
Artifacts will include historic cars, rare photos and the remains of French-Swiss driver Romain Grosjean’s fiery 2020 Bahrain crash — when his car was engulfed in flames for half a minute after hitting a barrier at high speed, yet he escaped alive.
The exhibit debuted in Madrid, where it became Spain’s top-selling temporary exhibit of 2023; the next year in London, it won a prize for being the city’s best visitor experience of the year.
Tickets in Mexico City start at 295 pesos (about US $17), with early-access registration open before public sales launch Jan. 28. There will be no ticket sales on site. The exhibit will run daily from 9 a.m. to 8:30 p.m.
No closing date has been provided; past versions have run anywhere from five to nine months, with extensions due to strong ticket sales.
The transfer of 37 prisoners to the U.S., Mexican firefighters in Chile and an update on the investigation into December's train derailment were all topics of Thursday's presidential press conference. (Hazel Cárdenas / Presidencia)
President Claudia Sheinbaum held her Thursday morning press conference in Puebla de Zaragoza, capital of the state of Puebla.
She spoke about the future of the USMCA free trade pact amid increased tension between the United States and Canada (read MND’s story here), while Security Minister Omar García Harfuch announced the arrest of a man in connection with the murder of Bernardo Bravo, who led a lime growers’ association in Michoacán before his death in October. (Read MND’s story here.)
Security minister: Transfer of prisoners to US benefits Mexico
On Tuesday, García Harfuch announced that “37 operators of criminal organizations who represented a real threat to the security of the country” were flown to various cities in the United States on seven Mexican military planes.
On Thursday morning, he was asked to provide details on the threats the cartel figures posed.
García Harfuch told reporters that in “various” prisons in Mexico, inmates “have the opportunity to continue committing crimes.”
Security Minister Omar García Harfuch provided details about the recent transfer of Mexican prisoners to the U.S. (Hazel Cárdenas / Presidencia)
On Thursday, García Harfuch stressed that the transfer of the prisoners to the United States is “for the benefit of our country.”
The handover of 37 people on Tuesday was the third large transfer of prisoners to the U.S. since Sheinbaum took office after transfers last February (29 people) and August (26 people).
With the removal of more than 90 criminals from the country, “what we’re avoiding,” García Harfuch said, “is extortion of Mexican citizens [and] homicides of Mexican citizens.”
He also said that authorities are working to strengthen security in prisons in order to stop crimes being committed from within them.
FGR report on Interoceanic Train accident to be ready next week
Sheinbaum told reporters that she spoke to Attorney General Ernestina Godoy on Wednesday and was informed that the report the Federal Attorney General’s Office is preparing about the cause (or causes) of the Dec. 28 accident involving the Interoceanic Train will be ready next week.
The derailment of the train in the state of Oaxaca claimed 14 lives, and around 100 other people were injured.
The accident occurred nearly 90 minutes after the six-car Z-line train departed from Salina Cruz, Oaxaca, en route to Coatzacoalcos, Veracruz.
Mexican firefighters battle blazes in Chile
A reporter noted that a lot of Chileans have been thanking Mexico for sending firefighters to Chile to help battle wildfires that have claimed more than 20 lives.
Ya aterrizaron en Concepción 145 brigadistas y más de 360 kilos de carga para el combate de incendios en la zona centro-sur del país. El contingente se desplegará en los múltiples focos de incendio activos desarrollando diversas tareas. pic.twitter.com/TPNl3dDRZp
“Thank you, Mexico,” the Chilean government wrote above the video.
Sheinbaum said that Mexico’s National Forestry Commission is coordinating the deployment of Mexican firefighters in Chile.
“Mexico will always show solidarity, always. It is in our essence. Those values come from México profundo [deep Mexico], from the Indigenous peoples,” she said.
“Mexicans have great values that come from those civilizations, values that have to do with brotherhood, solidarity, family support, and love for one’s neighbor,” Sheinbaum said.
By Mexico News Daily chief staff writer Peter Davies (peter.davies@mexiconewsdaily.com)
President Sheinbaum will seek a call with Canadian Prime Minister Mark Carney, she said, as Canada-U.S. tensions build. Pictured: The three North American leaders meeting in Washington, D.C., after the FIFA World Cup draw in December. (Claudia Sheinbaum/X)
Amid increased tension between the United States and Canada, President Claudia Sheinbaum said on Thursday that her government would work to ensure that there is no rupture of the USMCA, the North American free trade pact that is subject to a formal review process this year.
At her morning press conference, Sheinbaum was asked whether the “clash” between the viewpoints expressed by Canadian Prime Minister Mark Carney and U.S. President Donald Trump in speeches at the World Economic Forum (WEF) meeting placed “the life” of the USMCA at risk.
At her Thursday morning press conference, Sheinbaum addressed questions about the sharp words exchanged between Mexico’s North American free trade partners at the World Economic Forum in Davos, Switzerland. (Hazel Cárdenas / Presidencia)
“And we believe it’s a good idea for the three countries to maintain the trade agreement,” said Sheinbaum, who noted that Economy Minister Marcelo Ebrard will travel to Washington D.C. next week “to continue working on trade issues” with U.S. officials.
Even if Mexico, the United States and Canada don’t agree to extend the USMCA during this year’s review process, the pact would not be terminated until 2036. An agreement to extend the pact would ensure its survival until at least 2042. Mexico and Canada’s trade relationships with China will likely be discussed during bilateral and trilateral negotiations, along with things such as rules of origin and the United States’ trade deficit with each of its neighbors.
Sheinbaum remains optimistic that the review process will go well, despite the differences between the U.S. and Canadian leaders.
On Thursday morning, she told reporters that she wouldn’t describe the expression of different opinions by Carney and Trump in Davos, Switzerland, over the past two days as a “clash of discourse.”
“They’re simply different points of view regarding what is happening internationally,” said Sheinbaum, who on Wednesday endorsed Carney’s WEF speech, describing it as “very good” and “very much in tune with the current times.”
The Canadian prime minister said that “for decades, countries like Canada prospered under what we called the rules-based international order,” even though “we knew the story of the international rules-based order was partially false” due to factors including that “trade rules were enforced asymmetrically.”
“… This fiction was useful,” Carney said.
“And American hegemony, in particular, helped provide public goods: open sea lanes, a stable financial system, collective security and support for frameworks for resolving disputes.”
This speech *is* one for the history books. But that’s less a compliment, than a coda.
Carney has given us the words to mark the end of the ‘rules-based order’…by acknowledging it never really existed.
Canada, Carney continued, “participated in the rituals” of the the rules-based international order, “but this bargain no longer works.”
“Let me be direct: We are in the midst of a rupture, not a transition,” he said.
“Over the past two decades, a series of crises in finance, health, energy and geopolitics have laid bare the risks of extreme global integration,” Carney said.
“But more recently, great powers have begun using economic integration as weapons. Tariffs as leverage. Financial infrastructure as coercion. Supply chains as vulnerabilities to be exploited,” said Carney, who was widely interpreted to be referring to the United States under Trump.
In that context — one that includes tariffs Trump imposed on a range of Canadian goods, and Mexican goods, in defiance of the free trade framework the USMCA provides — the prime minister noted that Canada has been diversifying its security and trade relationships.
“We are rapidly diversifying abroad. We’ve agreed a comprehensive strategic partnership with the EU, including joining SAFE, the European defense procurement arrangements. We have signed 12 other trade and security deals on four continents in six months,” Carney said.
While Mexico has raised tariffs on goods from countries including China, Canada — under the leadership of Prime Minister Mark Carney — has worked to lower trade barriers. (Presidencia)
“In the past few days, we have concluded new strategic partnerships with China and Qatar. We’re negotiating free trade pacts with India, ASEAN, Thailand, Philippines and Mercosur,” he said.
Carney said last Friday that “the world has changed” and that improved trade ties with China — the United States’ main strategic rival — sets Canada up “well for the new world order.”
Still, the United States is by far Canada’s largest trade partner, and the Canadian government remains firmly committed to the USMCA despite Trump’s rhetoric and its decision to ease trade barriers on China, at a time when Mexico is taking the opposite approach.
Trump hit back at Carney in his WEF address on Wednesday, calling the Canadian prime minister ungrateful.
Referring to a proposed missile defense system for the United States, he said:
“We’re building a golden dome that’s going to, just by its very nature, going to be defending Canada. Canada gets a lot of freebies from us, by the way. They should be grateful also. But they’re not. I watched their prime minister yesterday. He wasn’t so grateful, they should be grateful to us. Canada lives because of the United States. Remember that Mark, the next time you make your statements.”
Trump: “Canada lives because of the United States”
While Trump claims that the United States doesn’t need Canadian goods, The New York Times pointed out in a report published on Tuesday that “the majority of the oil the United States imports comes from Canada.”
Companies in the U.S. across a range of sectors, including automakers, are dependent on inputs that are made in Mexico. In light of the economic integration across North America, Sheinbaum has said she is “very optimistic” about the USMCA review.
Sheinbaum to seek calls with Trump and Carney
Sheinbaum told reporters on Thursday morning that she hasn’t recently spoken with Carney, but would seek a call with him.
“We’re going to try to have a conversation, and of course with President Trump [as well],” she said, adding that they would discuss “all the negotiations that have to do with the trade agreement.”
After the 15-minute call, Sheinbaum said she and Trump agreed to another call soon in order to discuss “other issues,” including trade.
In a future trade-focused call with Trump, Sheinbaum’s main aim — it would appear — will be to convince her U.S. counterpart of the relevance and vitalness of the USMCA, including by emphasizing that the United States does indeed need Mexican (and Canadian) goods.
By Mexico News Daily chief staff writer Peter Davies (peter.davies@mexiconewsdaily.com)
The peso's strong finish Wednesday continued a trend for the new year in which the Mexican currency has gained 2.91% against the dollar. (Shutterstock)
The peso appreciated to less than 17.5 units per US dollar on Wednesday, its strongest level since May 2024.
The closing rate of 17.483, represented an appreciation of 0.69%, or 12.13 centavos for the day. Through the first three weeks of the new year, the peso has gained 2.91% against the dollar.
The exchange rate actually approached 17.40 pesos per greenback during the day, only to lose some ground after U.S. President Donald Trump said that attacks against Mexican cartels would “begin soon.”
Banamex reported that the dollar was selling for 17.91 pesos on Wednesday afternoon, while the purchase price was 16.93 units.
The peso movement was supported by a decrease in geopolitical tensions following comments by Trump in Davos, as well as by the narrative of less economic pressure in the U.S., which is seen as a positive for Mexico.
“Even so, the market remains sensitive to any news from the United States that could quickly shift sentiment,” Diego Albuja, market analyst at ATFX LATAM, told El Economista newspaper.
Wednesday’s strong performance led Banamex to revise its exchange rate projections. They now anticipate that the peso will trade below 19 units within the next two years.
“The superpeso could be making a comeback, supported by greater risk appetite and high interest rates,” Banamex economists said in a note. “We now estimate it at 18.36 pesos per dollar in December of this year and at 18.73 by 2027.”
The appreciation of the peso is not entirely good news, however.
Those who receive remittances — an estimated 1 in 10 adults in Mexico rely on money from abroad — receive fewer pesos when they exchange the money.
At the same time, companies in the export sector, an economic driver in recent years, generate less income in local currency.
“Currency appreciation can cause domestic production to lose competitiveness in the international market because local products are now worth more in foreign currency,” Monex economists told the newspaper La Jornada.
As such, exports tend to decrease, contributing to the trade deficit.
A relatively weaker dollar has also helped the peso demonstrate strength in 2026. Analysts anticipate that continued nearshoring with the U.S. and Canada, along with overall foreign direct investment into Mexico, will continue driving strong demand for pesos.
Looking further into the future, the market consensus is that the exchange rate “will remain in the range of 18 to 20 pesos per dollar with a slight tendency towards depreciation, given a still weak economy and attention to monetary policy decisions both at home and in the U.S.”
A recent Reuters survey found that those polled believe the peso will keep trading close to the center of a range between 16-22 per U.S. dollar that has held firm for more than a decade.
Mexican government official addressing media during a press conference in May 2023.
The Federal Attorney General’s Office (FGR) is investigating the former first gentleman of the state of Baja California for crimes related to arms trafficking, drug trafficking and money laundering.
Governor Marina del Pilar Ávila on Wednesday confirmed that Carlos Torres is the subject of a probe that stemmed from an anonymous complaint implicating her ex-husband in a plot to allow a faction of the Sinaloa Cartel to operate in the northern border state.
Carlos Torres is under investigation for crimes allegedly committed while he was married to Baja California Gov. Marina del Pilar Ávila. (Carlos Torres/Facebook)
After referring reporters to a statement issued by Torres (in which he called the accusations “slanderous”), Ávila said she is confident that the FGR “will conduct a thorough investigation and the facts will be clarified.”
Last May, the U.S. government revoked the governor’s and her then-husband’s tourist visas. At the time, Avila said the decision by the U.S. government was “neither an accusation nor an investigation.” The news was significant, however, as it represented the first time in recent history that a sitting Mexican official was denied entry to the U.S. In following months, dozens of Mexican politicians had their U.S. visas revoked by the Trump administration.
According to N+, the news division of the Grupo Televisa-Univision media conglomerate, the Organized Crime Prosecutor’s Office received a complaint on June 11, 2025, that Torres received US $150,000 a month from Pedro Ariel Mendivil García, former security minister for the Mexicali City Council, to allow the Los Rusos Cartel to operate in the northern state.
By then, Torres had stepped down from his honorary posts and in October the governor and he began divorce proceedings.
N+ identified Luis Alfonso Torres, Carlos’ brother, as the alleged leader of the criminal network under investigation, reporting that Luis “directed the administrative operations of illicit funds through companies and support for political campaigns in Mexico.”
The network allegedly carried out extortion by seizing merchandise or shipments and demanding millions of dollars for their release at state customs offices. The payments were then allegedly sent to a local notary. The network is also accused of trafficking in weapons, money and drugs.
Among the names mentioned in the file as subjects of investigation are high-ranking state officials from the Tax Administration Service (SAT) and Customs, as well as mayors and municipal leaders. Also appearing is Sen. Armando Ayala Robles, the former mayor of Ensenada, Baja California.
Carlos Torres was a member of the National Action Party (PAN) for 20 years during which time he was a state congressman (2016-2019), competed to be mayor of Tijuana in 2010 and served as a federal deputy (2006-2009).
In February 2025, Torres resigned from the PAN and joined Morena, the dominant party in Mexico. Ávila and Sen. Ayala are also members of Morena.
Royal Caribbean hopes to welcome over 5 million tourists a year at its Mahahual water park, Perfect Day Mexico. (Royal Caribbean)
Royal Caribbean is aiming high in Mahahual, Quintana Roo. The cruise company hopes to build an exclusive, beach-front water park that could welcome millions of cruise passengers a year — but local opposition threatens to halt the project. Activists say the park will worsen infrastructure woes in the 2,600-person town, where an overloaded sewage system regularly leaks into nearby mangroves and reefs.
Perfect Day Mexico involves the construction of a 80-hectare water park across from the Mahahual cruise ship pier in southern Quintana Roo. The initial plan calls for an operational capacity of up to 21,000 cruise ship tourists per day, in addition to 2,500 employees for the park’s operation.
Activists, however, warned that Mahahual has serious drainage and sewage management problems, and they worry that a mega-park would overload the town’s already saturated infrastructure.
The complaints prompted the non-profit Defending the Right to a Healthy Environment (DMAS) to file an amparo lawsuit (a legal action or writ in Mexico used to protect individuals from violations of their human rights) against the Perfect Day Project.
In the lawsuit, DMAS challenges recent land use modifications to the municipal Urban Development Program (PDU), including the removal of roads and other restrictions to allow the construction of the water park planned by Royal Caribbean in Mahahual.
Antonella Vázquez Cavedón, head of DMAS, told newspaper El Economista that the modifications to the PDU are a clear violation of the Human Settlements Law.
She explained that given the project’s significance for the entire community, authorities were obliged to carry out a public consultation process to ensure that citizens understand the project’s scope and consequences to the urban growth of Mahahual.
According to Vázquez, Royal Caribbean’s interests prevailed over the interests of the community.
“The mayor presented the ruling to the city council and in just a few days, they granted [Royal Caribbean] every request,” she said.
Currently, an incomplete water treatment plant leaks raw sewage into Mahahual’s coastal mangrove forest and the nearby reef, Vázquez said.
Royal Caribbean has promised to clean up the area contaminated by the sewage leaks, but activists say the project’s operation will further strain the community’s already poor infrastructure and drainage system.
The company has also recognized the presence of endangered species like the ocelot, margay and white turtle. According to the Environmental Impact Statement (MIA), mitigation measures will be undertaken to “reduce stress and ensure the physical integrity of the individuals.”
César Alejandro Sepúlveda Arrellano, known as "El Botox," was arrested in a small town near Apatzingán, a regional agricultural hub. (SSPC)
Security Minister Omar García Harfuch announced on Thursday the arrest of a man in connection with the murder of Bernardo Bravo, who led a lime growers’ association in Michoacán.
At President Claudia Sheinbaum’s morning press conference, García Harfuch said that “an individual nicknamed El Botox” had been detained “a few minutes ago” in an operation carried out by federal and state security forces in Michoacán.
En un operación conjunta de @Defensamx1@SEMAR_mx@SSPCMexico@FiscaliaMich y autoridades del estado de Michoacán fue detenido el Carlos Alejandro N “Botox” objetivo prioritario y generador de violencia en Michoacán. Principal extorsionador de limoneros y responsable de varios… pic.twitter.com/HlpOlEqwVt
“El Botox” is César Alejandro Sepúlveda Arrellano, alleged leader of Los Blanco de Troya, a crime group described in media reports as the armed wing of Los Viagras, a criminal organization affiliated with the Jalisco New Generation Cartel.
García Harfuch said that Sepúlveda is “responsible” for extorting lime growers and other agricultural producers, and for homicides, including that of Bravo, who was killed last October.
He said that the suspect attempted to escape from the address authorities raided on Thursday morning, but a female security agent detained him. The arrest reportedly took place near Apatzingán, a municipality in the notoriously dangerous Tierra Caliente region of Michoacán.
García Harfuch said that “a woman very close to” Sepúlveda was arrested around midnight on Thursday. He noted also that three people within Sepúlveda’s “close circles” were detained last week.
On social media, García Harfuch wrote that “El Botox,” who has previously spent time in prison, was a “priority target” of authorities and a “generator of violence in Michoacán,” one of Mexico’s most violent states.
The Michoacán Attorney General’s office accuses Sepúlveda of both planning the murder of Bravo and carrying it out. A warrant was issued for his arrest before he was taken into custody on Thursday morning. The Milenio newspaper reported that Sepúlveda recently posted videos to social media in which he asserted that he didn’t murder Bravo and that he was in fact a defender of the citrus industry in Michoacán.
The arrest of the suspect came three months and one day after Bravo, president of the Apatzingán Citrus Growers Association in Michoacán, was found dead in the front seat of his pick-up truck, killed by a bullet to the back of his head.
The next day, García Harfuch announced that a man identified as Rigoberto “N” had been detained.
“As a result of investigative work following the homicide of Bernardo Bravo, leader of citrus growers in the region, an operation was carried out in Michoacán … during which Rigoberto “N” was arrested,” he wrote on social media on Oct. 21.
“The detainee is identified as one of those responsible for collecting extortion payments from lime producers in Apatzingán,” García Harfuch wrote.
Though Rigoberto “N” was not charged with the murder of Bravo, he is suspected of playing a role in his death.
Before he was murdered, Bravo had been urging lime growers in the Tierra Caliente region of Michoacán to resist the extortion scheme that has long plagued producers in the area.
The US Treasury Department announced sanctions against ‘El Botox’ last year
Last August, the U.S. Department of the Treasury’s Office of Foreign Assets Control announced that it was “sanctioning two notorious Mexican cartels — Carteles Unidos (a.k.a. ‘United Cartels’)and Los Viagras — and seven affiliated individuals linked to terrorism, drug trafficking, and extortion in Mexico’s agricultural sector.”
One of the sanctioned individuals was Sepúlveda.
“César Alejandro Sepúlveda Arellano, a.k.a. ‘El Botox,’ is a Los Viagras leader responsible for the killing of a citrus producer,” the Treasury Department said in an Aug. 14 statement, released more than two months before Sepúlveda allegedly murdered Bravo.
In the same press release, Treasury wrote that “Los Viagras has extorted avocado and citrus growers, cattle ranchers, and entire towns to generate revenue.”
Highway blockades reported after arrest
Highway blockades set up by armed civilians were reported at three different points in the Tierra Caliente region of Michoacán following the arrest of Sepúlveda. Two of the blockades were set up in Apatzingán and one in the neighboring municipality of Buenavista.
It is relatively common in Mexico for crime groups to set up highway blockades in response to arrests, and to hinder additional actions against their members. Sometimes the blockades include burning vehicles, but that didn’t appear to be the case in the Tierra Caliente region on Thursday morning.
