Mexico Economy Beats Forecasts Amid Escalating Trade Tensions

Mexico's economy beat forecasts in Q2, growing 1.4% quarter-on-quarter to reach MX$37.53 trillion (US$2.06 trillion) in nominal terms. The growth was driven by a 2.1% year-over-year increase in real GDP and a 4.2% rise in the Implicit Price Index.

Canada, meanwhile, imposed retaliatory tariffs of up to 50% on US goods as trade tensions escalate ahead of Mexico's upcoming USMCA review negotiations with Washington. The move is seen as a response to recent trade disputes between the two countries.