Global Trade Disruptions Follow US-Israel Strikes on Iran

Last week, the United States and Israel launched a large-scale joint military campaign against Iran. Following the attacks, Iran announced the closure of the Strait of Hormuz, which is disrupting global oil and gas flows and driving up shipping costs. In addition, Trump orders a halt to all trade with Spain after its stance on Iran. Spain says trade policy is set by the EU and cannot be changed unilaterally.

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War in Iran: Hormuz Closure Hits Mexico’s Oil, Shipping, and Trade Costs

Iran declared the Strait of Hormuz closed on March 2, warning it would fire on any ship attempting to pass, a move that risks disrupting roughly a fifth of global oil trade and sending energy prices higher. “The strait is closed. If anyone tries to pass, the heroes of the Revolutionary Guards and the regular navy will set those ships ablaze,” Ebrahim Jabari, Senior Adviser to the Guards’ Commander-in-Chief, said.

US Threatens Trade With Spain; Any Break Targets the EU

Spain’s refusal to allow US military use of its bases for operations against Iran has prompted President Donald Trump to order a halt to all US-Spain trade, heightening uncertainty in transatlantic security and commercial relations. However, Madrid says trade policy is set by the EU and cannot be changed unilaterally. 

Canada Pursues Bilateral Agreement Parallel to USMCA Review

The Canadian government is in negotiations with the United States to remove tariffs on critical industrial sectors, to incorporate these resolutions into bilateral agreements alongside the upcoming USMCA review. Canada-US Trade Minister Dominic LeBlanc stated that Canada is seeking to reduce or eliminate tariffs on steel, aluminum, and automobiles. These measures were implemented by the administration of President Donald Trump last year. Canadian Prime Minister Mark Carney previously indicated that discussions regarding these sectoral tariffs would likely be integrated into the trilateral trade review process.

INE Reviews Electoral Reform; Faces Opposition From Major Parties

In a press release, INE stated it will review the components of the constitutional electoral reform initiative presented by President Claudia Sheinbaum. INE officials emphasized that a thorough technical and operational analysis will only be possible once the full text of the initiative, including the specific constitutional articles and transitional provisions, is available.

Mexico Records 47.8 Million International Tourists in 2025

Mexico recorded 47.8 million international tourists during 2025, a 6% increase over the previous year. According to data presented by Minister of Tourism Josefina Rodríguez, total international visitors to Mexico reached 98.2 million, a 13.6% increase from 2024. Economic revenue from the sector exceeded US$34.99 billion, reflecting a 6.2% rise. The government aims for Mexico to become the fifth most visited country globally by 2030, a goal that requires an average of 3 million additional tourists annually.