After slowing to 4% in 2022, world trade growth is expected to decelerate further to 1.6% in 2023, largely reflecting weakening global demand, the World Bank projected. Trade is also expected to be particularly weak in emerging markets and developing economies with strong trade links to major economies,
On average, Mexico accounted for 57% of total manufacturing shipments from Latin America and the Caribbean (LAC) between 2019 and 2021, followed by Brazil, Chile and Argentina. Overall, the share of manufactures in total exports of goods is higher in Central America, the Caribbean and Mexico than in
Both productivity and real wage growth were high in the United States in 2020, but have declined since then, according to a U.S. congressional analysis. In particular, both real wage growth and productivity growth have been consistently negative in 2022. Although nominal wage increases have been above trend
Mexico and Canada won a dispute settlement panel against the United States regarding automotive rules of origin under the USMCA. On August 20, 2021, the government of Mexico filed a request for consultations with the United States under Chapter 31 (Dispute Settlement) of the Agreement between the United
The United States lost a dispute settlement panel on rules of origin in the automotive industry under the Mexico-U.S.-Canada Agreement (USMCA). The Panel, constituted under the USMCA, released its Final Report on Wednesday in the U.S.-Automotive Rules of Origin dispute (USA-MEX-2022-31-01). The Panel determined that the USMCA allows
The Pacific Alliance, comprising Mexico, Colombia, Chile and Peru as full members, has a high standard for new members, said Francisco de Rosenzweig, partner at White & Case. He described as «a good sign» of the value of the Pacific Alliance that there is a growing number of