T-MEC review talks set for Sept 21 as Mexico's fiscal margin on diesel fuel runs out
The fourth round of bilateral T-MEC negotiations will be held on September 21, 2026, while the government has exhausted its fiscal room to subsidize diesel via the IEPS tax.
By Diego Lozano · 7wThe Office of the US Trade Representative and Mexico's Secretariat of Economy, headed by Marcelo Ebrard, agreed to hold the fourth round of T-MEC bilateral review negotiations on Monday, September 21, 2026.
The talks come as the Secretariat of Finance and Public Credit (SHCP) in Mexico has exhausted the fiscal margin for the Special Production and Services Tax (IEPS) on diesel to prevent inflation. The read here is that the government has used up its main tool to keep fuel prices from rising, which could feed into consumer costs ahead of the trade review.
Separately, Óscar Ocampo, director of Economic Development at the Mexican Institute for Competitiveness (IMCO), said in an interview that the budgets for Mexico's state-owned energy companies Pemex and CFE are insufficient for their investment needs, and that the government appears to be betting on more ambitious private participation schemes.
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