IBOV 174,014.45 ▼ 1.13% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL5.10▲ 0.46% USD/MXN17.43▲ 0.24% USD/CLP927.20▲ 0.13% USD/COP3,221▼ 1.19% USD/PEN3.40▲ 0.42% USD/ARS1,475▼ 0.07% USD/UYU40.18▲ 1.21% USD/PYG6,030▲ 1.35% USD/BOB10.63▲ 3.73% USD/DOP58.14▼ 0.19% USD/CRC447.87▲ 1.07% USD/GTQ7.62▲ 2.25% USD/HNL26.73▲ 0.09% USD/NIO36.62▲ 0.34% USD/VES725.63▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.31% USD/TTD6.75▲ 1.34% EUR/BRL5.84▲ 0.50% BRENT 84.24 ▼ 0.84% WTI 78.24 ▼ 1.71% IRON ORE 161.91 — — COPPER 6.31 ▲ 0.28% GOLD 3,992 ▼ 1.28% SILVER 56.03 ▼ 1.90% SOY 1,195 ▼ 0.58% CORN 464.00 ▲ 3.69% WHEAT 675.00 ▼ 0.37% COFFEE 313.95 ▼ 6.13% SUGAR 14.41 ▼ 2.96% ORANGE JUICE 134.95 ▼ 2.81% COTTON 79.07 ▼ 1.85% COCOA 5,441 ▼ 5.16% BEEF 223.05 ▼ 3.07% CATTLE 346.88 ▼ 0.88% LITHIUM 68.77 ▼ 3.22% PETR4 40.49 ▼ 0.25% VALE3 72.60 ▼ 2.56% ITUB4 42.56 ▼ 1.34% BBDC4 18.33 ▼ 1.45% ABEV3 15.67 ▲ 0.64% BBAS3 20.53 ▼ 0.10% B3SA3 15.31 ▼ 2.42% WEGE3 43.36 ▼ 2.03% PRIO3 57.46 ▼ 0.07% SUZB3 41.90 ▲ 1.01% RENT3 39.04 ▼ 3.25% AZZA3 18.54 ▼ 0.64% CSAN3 3.91 ▼ 0.51% RAIZ4 0.29 — 0.00% PCAR3 2.68 ▲ 2.29% GMAT3 3.92 ▼ 1.51% PSSA3 55.02 ▼ 0.36% CVCB3 1.37 ▲ 2.24% POSI3 3.88 ▼ 1.77% SLCE3 13.60 ▲ 0.74% NATU3 8.58 ▼ 1.04% BRKM5 6.19 ▼ 3.43% RANI3 8.03 ▲ 0.63% CSNA3 5.12 ▼ 2.29% CMIN3 5.45 ▲ 4.01% USIM5 8.05 ▼ 1.83% GGBR4 23.93 ▼ 1.12% ENEV3 25.94 ▼ 3.75% CPFE3 46.72 ▼ 0.23% CMIG4 11.00 ▼ 1.35% EQTL3 39.65 ▼ 1.69% LREN3 13.67 ▼ 3.05% VIVT3 35.59 ▲ 0.34% RAIL3 13.93 ▼ 1.00% KLABIN 17.44 ▲ 0.29% RAIA DROGASIL 18.63 ▼ 0.21% RDOR3 35.70 ▼ 0.86% HAPV3 10.89 ▼ 0.91% FLRY3 16.32 ▼ 1.15% SMTO3 15.62 ▲ 0.58% UGPA3 31.80 ▲ 2.25% VBBR3 34.43 ▲ 2.01% BBSE3 41.06 ▲ 0.86% BPAC11 56.17 ▼ 1.53% CURY3 31.50 ▼ 3.76% AERI3 2.03 ▲ 0.50% VIVARA 23.33 ▼ 0.81% COMPASS 24.94 ▼ 0.68% VAMOS 3.15 ▲ 0.96% SANB11 26.85 ▼ 0.56% ASAI3 8.47 ▼ 2.19% SBSP3 29.49 ▼ 1.63% WALMEX 49.22 ▼ 0.97% GMEXICO 200.12 ▼ 0.05% FEMSA 224.89 ▲ 0.73% CEMEX 22.80 ▲ 0.80% GFNORTE 179.67 ▼ 2.07% BIMBO 58.50 ▲ 1.70% TELEVISA 9.63 ▲ 0.73% AMX 22.91 ▲ 0.48% GAP 389.18 ▼ 1.99% ASUR 280.58 ▼ 1.02% OMA 231.27 ▼ 1.67% KOF 178.85 ▲ 1.07% GRUMA 285.62 ▲ 1.52% KIMBER 38.73 ▲ 0.18% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 77,800 ▼ 0.95% GGAL 7,935 ▼ 3.29% PAMPA 5,145 ▼ 1.81% TXAR 665.00 ▼ 0.89% ALUAR 941.00 ▼ 1.93% TGS 9,535 ▼ 2.21% CEPU 2,282 ▼ 2.65% MIRGOR 16,700 ▼ 1.62% COME 44.91 ▼ 1.58% LOMA NEGRA 3,610 ▼ 0.07% BYMA 300.00 ▼ 1.32% TELECOM ARG 4,230 ▼ 1.97% ECOPETROL 15.97 ▼ 0.06% BANCOLOMBIA 79.47 ▼ 2.55% GRUPO AVAL 5.00 ▼ 0.61% CREDICORP 389.74 ▼ 2.13% SOUTHERN COPPER 174.75 ▼ 3.74% BUENAVENTURA 29.99 ▼ 2.36% MERCADOLIBRE 1,844 ▲ 0.05% NUBANK 13.83 ▼ 0.40% XP 16.63 ▼ 1.45% PAGSEGURO 9.15 ▼ 0.71% STONE 11.16 ▼ 1.11% GLOBANT 33.18 ▲ 3.75% TECNOGLASS 47.15 ▲ 3.24% GAP AIRPORT 223.12 ▼ 2.05% ASUR 280.58 ▼ 1.02% OMA AIRPORT 106.22 ▼ 1.56% AMX ADR 26.21 ▲ 0.38% FEMSA ADR 128.95 ▲ 0.14% CEMEX ADR 13.09 ▲ 0.11% PETROBRAS ADR 17.63 ▼ 1.32% VALE ADR 14.17 ▼ 3.41% ITAU ADR 8.30 ▼ 1.83% SANTANDER BR 5.29 ▼ 1.12% AMBEV ADR 3.04 ▲ 0.33% CSN 1.01 ▼ 2.43% GERDAU 4.69 ▼ 2.29% LATAM ADR 53.37 ▼ 2.73% BTC 64,186 ▼ 0.81% ETH 1,875 ▼ 2.17% SOL 75.76 ▼ 1.95% XRP 1.09 ▼ 1.67% BNB 575.66 ▼ 0.77% ADA 0.16 ▼ 1.57% DOGE 0.07 ▼ 0.83% AVAX 6.54 ▼ 2.33% LINK 8.39 ▼ 1.67% DOT 0.85 ▲ 0.54% LTC 45.15 ▲ 0.06% BCH 222.41 ▼ 0.33% TRX 0.32 ▼ 0.46% XLM 0.19 ▲ 0.96% HBAR 0.07 ▼ 0.35% NEAR 2.04 ▼ 1.31% ATOM 1.53 ▼ 1.83% AAVE 92.14 ▼ 3.85% SELIC 14.25% EMBRAER 81.93 ▼ 0.51% EMBRAER ADR 63.99 ▼ 1.40% JBS 12.13 ▲ 0.21% JBS BDR 61.83 ▲ 0.65% MBRF3 15.20 ▼ 1.30% MBRFY 2.98 ▲ 3.83% INTER 5.51 ▼ 2.05% EGX 52,928 ▲ 0.70% USD/ZAR16.40▲ 0.45% USD/NGN1,378▼ 0.12% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY162.38▲ 0.12% USD/CNY6.76▼ 0.11% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD1.14▼ 0.19% GBP/USD1.35▲ 0.54% SPX 7,537 ▼ 0.47% DJI 52,516 ▼ 0.27% NDX 29,060 ▼ 1.50% RUT 2,970 ▼ 0.22% TSX 35,314 ▼ 0.29% VIX 16.48 ▲ 5.17% USD/CAD1.41▲ 0.06% US10Y 4.5650 ▲ 0.44% IBOV 174,014.45 ▼ 1.13% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL 5.10 ▲ 0.46% USD/MXN 17.43 ▲ 0.24% USD/CLP 927.20 ▲ 0.13% USD/COP 3,221 ▼ 1.19% USD/PEN 3.40 ▲ 0.42% USD/ARS 1,475 ▼ 0.07% USD/UYU 40.18 ▲ 1.21% USD/PYG 6,030 ▲ 1.35% USD/BOB 10.63 ▲ 3.73% USD/DOP 58.14 ▼ 0.19% USD/CRC 447.87 ▲ 1.07% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.73 ▲ 0.09% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.31% USD/TTD 6.75 ▲ 1.34% EUR/BRL 5.84 ▲ 0.50% BRENT 84.24 ▼ 0.84% WTI 78.24 ▼ 1.71% IRON ORE 161.91 — — COPPER 6.31 ▲ 0.28% GOLD 3,992 ▼ 1.28% SILVER 56.03 ▼ 1.90% SOY 1,195 ▼ 0.58% CORN 464.00 ▲ 3.69% WHEAT 675.00 ▼ 0.37% COFFEE 313.95 ▼ 6.13% SUGAR 14.41 ▼ 2.96% ORANGE JUICE 134.95 ▼ 2.81% COTTON 79.07 ▼ 1.85% COCOA 5,441 ▼ 5.16% BEEF 223.05 ▼ 3.07% CATTLE 346.88 ▼ 0.88% LITHIUM 68.77 ▼ 3.22% PETR4 40.49 ▼ 0.25% VALE3 72.60 ▼ 2.56% ITUB4 42.56 ▼ 1.34% BBDC4 18.33 ▼ 1.45% ABEV3 15.67 ▲ 0.64% BBAS3 20.53 ▼ 0.10% B3SA3 15.31 ▼ 2.42% WEGE3 43.36 ▼ 2.03% PRIO3 57.46 ▼ 0.07% SUZB3 41.90 ▲ 1.01% RENT3 39.04 ▼ 3.25% AZZA3 18.54 ▼ 0.64% CSAN3 3.91 ▼ 0.51% RAIZ4 0.29 — 0.00% PCAR3 2.68 ▲ 2.29% GMAT3 3.92 ▼ 1.51% PSSA3 55.02 ▼ 0.36% CVCB3 1.37 ▲ 2.24% POSI3 3.88 ▼ 1.77% SLCE3 13.60 ▲ 0.74% NATU3 8.58 ▼ 1.04% BRKM5 6.19 ▼ 3.43% RANI3 8.03 ▲ 0.63% CSNA3 5.12 ▼ 2.29% CMIN3 5.45 ▲ 4.01% USIM5 8.05 ▼ 1.83% GGBR4 23.93 ▼ 1.12% ENEV3 25.94 ▼ 3.75% CPFE3 46.72 ▼ 0.23% CMIG4 11.00 ▼ 1.35% EQTL3 39.65 ▼ 1.69% LREN3 13.67 ▼ 3.05% VIVT3 35.59 ▲ 0.34% RAIL3 13.93 ▼ 1.00% KLABIN 17.44 ▲ 0.29% RAIA DROGASIL 18.63 ▼ 0.21% RDOR3 35.70 ▼ 0.86% HAPV3 10.89 ▼ 0.91% FLRY3 16.32 ▼ 1.15% SMTO3 15.62 ▲ 0.58% UGPA3 31.80 ▲ 2.25% VBBR3 34.43 ▲ 2.01% BBSE3 41.06 ▲ 0.86% BPAC11 56.17 ▼ 1.53% CURY3 31.50 ▼ 3.76% AERI3 2.03 ▲ 0.50% VIVARA 23.33 ▼ 0.81% COMPASS 24.94 ▼ 0.68% VAMOS 3.15 ▲ 0.96% SANB11 26.85 ▼ 0.56% ASAI3 8.47 ▼ 2.19% SBSP3 29.49 ▼ 1.63% WALMEX 49.22 ▼ 0.97% GMEXICO 200.12 ▼ 0.05% FEMSA 224.89 ▲ 0.73% CEMEX 22.80 ▲ 0.80% GFNORTE 179.67 ▼ 2.07% BIMBO 58.50 ▲ 1.70% TELEVISA 9.63 ▲ 0.73% AMX 22.91 ▲ 0.48% GAP 389.18 ▼ 1.99% ASUR 280.58 ▼ 1.02% OMA 231.27 ▼ 1.67% KOF 178.85 ▲ 1.07% GRUMA 285.62 ▲ 1.52% KIMBER 38.73 ▲ 0.18% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 77,800 ▼ 0.95% GGAL 7,935 ▼ 3.29% PAMPA 5,145 ▼ 1.81% TXAR 665.00 ▼ 0.89% ALUAR 941.00 ▼ 1.93% TGS 9,535 ▼ 2.21% CEPU 2,282 ▼ 2.65% MIRGOR 16,700 ▼ 1.62% COME 44.91 ▼ 1.58% LOMA NEGRA 3,610 ▼ 0.07% BYMA 300.00 ▼ 1.32% TELECOM ARG 4,230 ▼ 1.97% ECOPETROL 15.97 ▼ 0.06% BANCOLOMBIA 79.47 ▼ 2.55% GRUPO AVAL 5.00 ▼ 0.61% CREDICORP 389.74 ▼ 2.13% SOUTHERN COPPER 174.75 ▼ 3.74% BUENAVENTURA 29.99 ▼ 2.36% MERCADOLIBRE 1,844 ▲ 0.05% NUBANK 13.83 ▼ 0.40% XP 16.63 ▼ 1.45% PAGSEGURO 9.15 ▼ 0.71% STONE 11.16 ▼ 1.11% GLOBANT 33.18 ▲ 3.75% TECNOGLASS 47.15 ▲ 3.24% GAP AIRPORT 223.12 ▼ 2.05% ASUR 280.58 ▼ 1.02% OMA AIRPORT 106.22 ▼ 1.56% AMX ADR 26.21 ▲ 0.38% FEMSA ADR 128.95 ▲ 0.14% CEMEX ADR 13.09 ▲ 0.11% PETROBRAS ADR 17.63 ▼ 1.32% VALE ADR 14.17 ▼ 3.41% ITAU ADR 8.30 ▼ 1.83% SANTANDER BR 5.29 ▼ 1.12% AMBEV ADR 3.04 ▲ 0.33% CSN 1.01 ▼ 2.43% GERDAU 4.69 ▼ 2.29% LATAM ADR 53.37 ▼ 2.73% BTC 64,186 ▼ 0.81% ETH 1,875 ▼ 2.17% SOL 75.76 ▼ 1.95% XRP 1.09 ▼ 1.67% BNB 575.66 ▼ 0.77% ADA 0.16 ▼ 1.57% DOGE 0.07 ▼ 0.83% AVAX 6.54 ▼ 2.33% LINK 8.39 ▼ 1.67% DOT 0.85 ▲ 0.54% LTC 45.15 ▲ 0.06% BCH 222.41 ▼ 0.33% TRX 0.32 ▼ 0.46% XLM 0.19 ▲ 0.96% HBAR 0.07 ▼ 0.35% NEAR 2.04 ▼ 1.31% ATOM 1.53 ▼ 1.83% AAVE 92.14 ▼ 3.85% SELIC 14.25% EMBRAER 81.93 ▼ 0.51% EMBRAER ADR 63.99 ▼ 1.40% JBS 12.13 ▲ 0.21% JBS BDR 61.83 ▲ 0.65% MBRF3 15.20 ▼ 1.30% MBRFY 2.98 ▲ 3.83% INTER 5.51 ▼ 2.05% EGX 52,928 ▲ 0.70% USD/ZAR 16.39 ▲ 0.65% USD/NGN 1,378 ▼ 0.11% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY 162.38 ▲ 0.15% USD/CNY 6.7615 ▲ 0.05% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD 1.1442 ▼ 0.23% GBP/USD 1.3469 ▼ 0.50% SPX 7,537 ▼ 0.47% DJI 52,516 ▼ 0.27% NDX 29,060 ▼ 1.50% RUT 2,970 ▼ 0.22% TSX 35,314 ▼ 0.29% VIX 16.48 ▲ 5.17% USD/CAD 1.4051 ▲ 0.10% US10Y 4.5650 ▲ 0.44%
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Thursday, July 16, 2026

Latin America Mexico

Bypassing A War Declaration, Trump Opens Door To A Land Campaign Against Cartels in Mexico

By · October 24, 2025 · 2 min read

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At a White House roundtable on October 23, 2025, President Donald Trump said Mexico is “run by the cartels,” praised President Claudia Sheinbaum as “brave,” and signaled a shift from targeting drug boats at sea to possible operations on land.

He added he would brief Congress but did not need a formal war vote—plainly saying he would “just…kill people” who bring drugs into the United States.

Mexico’s response is a firm two-track line: cooperate, but protect sovereignty. Sheinbaum has rejected any U.S. troop presence on Mexican soil while expanding collaboration that Mexico controls.

Since early 2025, authorities have extradited 55 alleged cartel suspects to the United States and surged roughly 10,000 National Guard and military personnel to the northern border—moves meant to ease U.S. pressure without ceding command.

In Washington, the administration created a path to label major cartels as terrorist organizations and installed Defense Secretary Pete Hegseth, who openly compares cartels to ISIS and al-Qaeda.

Bypassing A War Declaration, Trump Opens Door To A Land Campaign Against Cartels in Mexico. (Photo Internet reproduction)
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The United States has already carried out a series of lethal maritime strikes—at least nine since September—killing at least 37 people, first in the Caribbean and this week for the first time on the Pacific side.

U.S. Fentanyl Operations Strain Mexico Ties

Earlier in the year, U.S. reconnaissance flights near Mexican airspace drew notice from Mexico’s defense ministry, underscoring a more muscular U.S. posture.

The story behind the story is a collision of politics, law, and a public-health crisis. The fentanyl epidemic keeps pressure high in Washington even after a drop in overall overdose deaths last year.

The White House is testing a legal theory that treats cartels as non-state armed groups, allowing force without a fresh authorization from Congress.

Supporters call it necessary self-defense; critics warn it blurs the line between policing and war, risks civilian harm, and could migrate from seas to cities.

Why this matters beyond Mexico: it sets a precedent for cross-border force against criminal networks; it strains U.S. relations with key Latin American partners; and it touches trade, border management, and investor confidence.

For readers abroad, the question is no longer whether Washington will act—but how far it will go before Mexico’s sovereignty, and America’s own constitutional limits, snap back.

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