Global News Of Note: Mexican President Says Her Country Is Committed To USMCA

What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:

• Mexican President Claudia Sheinbaum has reaffirmed her commitment to renegotiating the United States, Mexico, Canada Agreement (USMCA). Specifically, President Sheinbaum dismissed the possibility of a breakdown in trade negotiations after Canadian Prime Minister Mark Carney gave a speech last week suggesting countries should distance themselves from the United States. The Mexican president told reporters she believes the treaty remains “convenient” to the three countries and pledged that “we’re going to work so that it doesn’t fall apart.” Read more at this link. Oxford Economics offers predictions for USMCA reauthorization at this link.
• According to The Guardian, government officials from the United Kingdom are considering whether to reduce the amount of foreign steel they allow into their borders tariff-free. Specifically, “Ministers are considering changing the quota system that allows a quantity of the metal to be imported before imposing a 25 percent levy on anything above that level.” Officials are expected to announce the revised quota system in April with implementation coming on or around July 1, 2026.
• As The Financial Post reported, Chinese aluminum output rose to an all-time high in 2025, climbing to around the level of the country’s capacity limit, while steel production fell to a seven-year low. Aluminum output increased 2.4 percent and has now risen every year this decade. Annual steel output declined 4.4 percent, meanwhile, falling to the one billion mark for the first time since 2019.