IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL5.35▲ 0.10% USD/MXN18.68▲ 0.03% USD/CLP983.77▼ 0.54% USD/COP3,144▼ 0.15% USD/PEN3.45▲ 0.03% USD/ARS1,538— 0.00% USD/UYU40.21▲ 3.57% USD/PYG5,803▲ 4.05% USD/BOB11.97▲ 4.12% USD/DOP61.22▲ 1.86% USD/CRC451.24▲ 2.31% USD/GTQ7.64▲ 3.15% USD/HNL26.87▲ 3.37% USD/NIO36.62▼ 0.02% USD/VES885.90▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.69▲ 2.51% USD/TTD6.71▲ 1.96% EUR/BRL5.95▼ 0.81% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99% IBOV 175,710.05 ▼ 0.51% IPC MEX 69,734.34 ▲ 0.38% MERVAL 2,848,945 — — USD/BRL 5.34 ▼ 1.32% USD/MXN 18.69 ▲ 0.62% USD/CLP 983.47 ▼ 0.57% USD/COP 3,149 ▲ 3.06% USD/PEN 3.45 ▲ 0.17% USD/ARS 1,537 ▼ 0.28% USD/UYU 40.21 ▲ 3.57% USD/PYG 5,803 ▲ 3.78% USD/BOB 11.97 ▲ 4.93% USD/DOP 60.54 ▲ 1.83% USD/CRC 451.24 ▲ 2.13% USD/GTQ 7.64 ▲ 3.23% USD/HNL 26.87 ▲ 3.37% USD/NIO 36.62 ▲ 2.81% USD/VES 885.08 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.69 ▲ 2.63% USD/TTD 6.71 ▲ 2.07% EUR/BRL 5.95 ▲ 7.53% BRENT 109.58 ▼ 5.38% WTI 100.12 ▼ 1.61% IRON ORE 161.91 — — COPPER 6.65 ▲ 2.24% GOLD 4,073 ▲ 0.85% SILVER 54.49 ▲ 0.70% SOY 1,250 ▲ 0.70% CORN 450.25 ▼ 1.04% WHEAT 614.75 ▼ 0.20% COFFEE 294.35 ▼ 2.19% SUGAR 19.26 ▲ 0.84% ORANGE JUICE 143.20 ▲ 5.45% COTTON 77.90 ▼ 1.47% COCOA 5,581 ▲ 1.66% BEEF 230.73 ▲ 0.33% CATTLE 346.40 ▼ 1.00% LITHIUM 62.43 ▲ 1.89% PETR4 53.31 ▼ 1.06% VALE3 62.88 ▼ 2.33% ITUB4 41.42 ▼ 0.67% BBDC4 15.69 ▼ 1.63% ABEV3 15.40 ▲ 0.20% BBAS3 17.59 ▲ 0.69% B3SA3 15.27 ▲ 1.33% WEGE3 45.78 ▲ 2.81% PRIO3 69.21 ▼ 2.71% SUZB3 47.14 ▼ 0.55% RENT3 31.14 ▼ 1.67% AZZA3 16.72 ▲ 1.15% CSAN3 2.69 ▼ 2.89% RAIZ4 0.34 — 0.00% PCAR3 2.22 ▼ 3.48% GMAT3 3.74 ▲ 2.19% PSSA3 47.75 ▼ 0.89% CVCB3 0.98 — 0.00% POSI3 3.56 ▼ 0.84% SLCE3 16.97 ▼ 2.75% NATU3 5.68 ▼ 3.89% BRKM5 3.80 ▲ 19.50% RANI3 7.34 ▼ 0.54% CSNA3 4.76 ▼ 4.99%
since 2009
Wednesday, October 28, 2026

Mexico Latin America

The Big Read: Mexico, Wednesday 28 October

By · October 28, 2026 · 5 min read
Long hall with arched ceiling, hanging lamps and rows of chairs in the National Palace, Mexico City
A hall in the National Palace in Mexico City, a file photo from 2007. The photo does not show the events in this story. Photo: J Mndz / Wikimedia Commons (CC BY-SA 2.0)
The Big Read · Mexico · Wednesday 28 October 2026

Key Facts

  • Grand Prix. The Mexico City Grand Prix runs from Friday 30 October to Sunday 1 November.
  • Trade. US goods trade with Mexico was an estimated US$871.6 billion in 2025.
  • Tariffs. The US applies a 10% Section 301 tariff and Section 232 duties of up to 50% on metals.
  • Consular cases. Mexico’s foreign ministry cites 152,466 consular-protection cases for Mexicans abroad.
  • Murders. TResearch, a private Mexican research firm, puts murders this term at roughly 50,000.
  • Power Index. Mexico ranks 2nd of 14 in The Rio Times Latin America Power Index, with 71.4 points (October 2026 edition).

Mexico’s week holds a Formula 1 title chance, stalled tariff talks, a search for missing migrants and a grim murder count.

In Plain English

  • Claudia Sheinbaum: Mexico’s president since October 2024, she sets the line on trade and sovereignty.
  • Marcelo Ebrard: Mexico’s economy secretary, he leads tariff talks with Washington.
  • USMCA: The US-Mexico-Canada Agreement, the North American trade pact, now under annual review.
  • Section 301 and 232: US trade-law tools: 301 targets alleged unfair practices, 232 allows tariffs on national-security grounds.
  • TResearch: A private Mexican research firm that runs its own daily murder tracker.

Formula 1 Freight Lands In Mexico City

Formula 1’s Mexico City Grand Prix runs from Friday 30 October to Sunday 1 November at the Autódromo Hermanos Rodríguez, the city’s race circuit.The weekend could settle the drivers’ championship.

Kimi Antonelli, the Mercedes team driver who won the United States Grand Prix in Austin, clinches the title with a finish of ninth or better.Sergio Pérez, Mexico’s best-known driver, is expected to make his 300th Formula 1 start for the new Cadillac team, which joined the sport this year.

Trade Talks Stall Over Tariff Details

Mexico and the United States are still negotiating over US tariffs on autos, steel and aluminum. Economy Secretary Marcelo Ebrard leads Mexico’s side.

Since 24 July 2026 the US has applied a 10% Section 301 tariff, a trade-law tool aimed at alleged unfair practices, to goods that do not comply with USMCA rules. Section 232 duties, based on a national-security law, reach 50% on steel and aluminum and 25% on many vehicles, with partial exemptions for USMCA-compliant goods.

The US-Mexico-Canada Agreement (USMCA) was reviewed on 1 July 2026. The United States declined to extend it for a new 16-year term, so it now faces annual reviews and would expire on 1 July 2036 without an extension.

Office towers and a clock kiosk on Paseo de la Reforma in Mexico City
File photo: office towers on Paseo de la Reforma, the main business avenue of Mexico City. The photo does not show the events in this story. Photo: Juan Carlos Fonseca Mata / Wikimedia Commons (CC BY-SA 4.0).

Sovereignty And Consular Cases

Roberto Velasco Álvarez, Mexico’s foreign minister, defended Mexican sovereignty and the protection of Mexicans abroad before the Senate.He cited 152,466 consular-protection cases, meaning help given to Mexicans in trouble abroad, and 16 diplomatic notes about Mexicans injured or killed in US custody or immigration operations.

Mexico also filed 20 complaints with prosecutors’ offices.

Missing Migrants And A Murder Count

A boat carrying about 27 people sank early on Friday 16 October roughly 140 miles west of Ensenada, Baja California. The US Coast Guard, the American maritime rescue service, rescued 16 people, and 11 remain missing.

The Coast Guard ended its search on Sunday 18 October. The cause of the sinking has not been publicly established.

TResearch, a private Mexican research firm, reports an average of 67 murder victims a day since Sheinbaum took office on 1 October 2024, a total of roughly 50,000. The government’s own figures are lower, and it says killings have fallen by about half.

What Links These Stories

The same border moves race freight in days and carries the goods now under tariffs. Both stories show how closely Mexico’s economy is tied to US decisions.

Sovereignty runs through the migration and security debates alike. It shapes how Mexico answers Washington on cartels, consular protection and the people lost at sea.

The reports behind this Big Read

All of today’s Mexico news →

What It Means for US Readers

For US investors and companies, unresolved tariff talks mean continued uncertainty in autos, metals and supply chains. The annual USMCA review creates recurring risk for North American trade planning.

For US race fans, the Mexico City weekend could decide the drivers’ championship. Violence figures from a private tracker sit alongside lower official numbers.

What to Watch Next

The Mexico City Grand Prix runs from Friday 30 October to Sunday 1 November, and Antonelli can clinch the title with a ninth-place finish or better.The US midterm elections on Tuesday 3 November will test whether tariff policy toward Mexico shifts.

Watch the next USMCA review milestones.

What Is Not Known

No tariff agreement has been announced, and no timing or scope of a deal is known.The cause of the Ensenada sinking and the fate of the 11 missing people have not been established.

Sources

Mexico City Grand Prix · Office of the US Trade Representative · Ministry of Foreign Affairs (SRE) · US Coast Guard · Formula 1

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief

Frequently Asked Questions

When is the Mexico City Grand Prix?

The race is on Sunday 1 November, and the race weekend runs from Friday 30 October at the Autódromo Hermanos Rodríguez.

What tariffs does the US apply to Mexico?

The US applies a 10% Section 301 tariff to goods that do not comply with USMCA rules, plus Section 232 duties of 50% on steel and aluminum and 25% on many vehicles.

How many people are missing after the Ensenada shipwreck?

The US Coast Guard rescued 16 people from the boat that sank on 16 October. Eleven people remain missing.

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