IBOV 173,731.28 ▼ 0.05% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,358.81 ▼ 0.08% MERVAL 3,185,257 — 0.00% COLCAP 2,285.11 ▼ 0.30% BVL PERÚ 57,220.16 — — USD/BRL5.12▲ 0.38% USD/MXN17.51▲ 0.48% USD/CLP931.04▲ 0.65% USD/COP3,256▲ 0.77% USD/PEN3.40▲ 0.38% USD/ARS1,480▲ 0.31% USD/UYU40.23▲ 1.74% USD/PYG6,032▲ 1.81% USD/BOB10.65▲ 4.37% USD/DOP58.24▲ 1.37% USD/CRC446.12▲ 1.44% USD/GTQ7.62▲ 2.73% USD/HNL26.73▲ 1.94% USD/NIO36.62▲ 1.17% USD/VES730.65▲ 0.57% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.59▲ 0.87% USD/TTD6.74▲ 1.70% EUR/BRL5.86▲ 0.38% BRENT 87.08 ▲ 3.38% WTI 81.22 ▲ 2.88% IRON ORE 161.91 — — COPPER 6.25 ▼ 0.75% GOLD 4,001 ▲ 0.39% SILVER 56.03 ▲ 0.24% SOY 1,200 ▲ 0.42% CORN 464.00 ▲ 5.10% WHEAT 674.00 ▼ 0.11% COFFEE 319.20 ▼ 0.65% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 130.65 ▼ 2.35% COTTON 78.43 ▲ 0.95% COCOA 5,522 ▲ 5.87% BEEF 222.30 ▼ 2.10% CATTLE 346.05 ▼ 0.16% LITHIUM 67.94 ▼ 1.34% PETR4 40.95 ▲ 2.66% VALE3 72.76 ▼ 0.30% ITUB4 42.09 ▼ 1.08% BBDC4 18.32 ▼ 0.49% ABEV3 15.73 ▲ 0.83% BBAS3 20.75 ▼ 0.05% B3SA3 15.34 ▼ 0.32% WEGE3 44.00 ▲ 1.17% PRIO3 57.87 ▲ 1.90% SUZB3 42.44 ▲ 1.77% RENT3 38.73 ▼ 0.33% AZZA3 18.69 ▲ 0.86% CSAN3 3.83 ▼ 1.29% RAIZ4 0.28 ▼ 3.45% PCAR3 2.59 — 0.00% GMAT3 3.83 ▼ 2.30% PSSA3 55.14 ▼ 0.14% CVCB3 1.34 ▼ 0.74% POSI3 3.88 — 0.00% SLCE3 13.54 ▼ 0.51% NATU3 8.54 ▼ 0.23% BRKM5 6.14 ▲ 0.66% RANI3 8.04 ▼ 0.50% CSNA3 5.03 ▼ 1.37% CMIN3 5.41 ▼ 0.73% USIM5 7.94 ▲ 0.51% GGBR4 23.86 ▼ 0.21% ENEV3 25.86 ▼ 0.35% CPFE3 47.29 ▲ 0.21% CMIG4 11.26 ▲ 1.53% EQTL3 39.85 — 0.00% LREN3 13.57 ▼ 0.59% VIVT3 35.59 ▲ 0.34% RAIL3 13.84 ▼ 0.65% KLABIN 17.57 ▲ 1.21% RAIA DROGASIL 18.30 ▼ 1.19% RDOR3 35.74 ▼ 0.36% HAPV3 11.33 ▲ 3.47% FLRY3 16.79 ▲ 2.25% SMTO3 15.55 ▼ 1.08% UGPA3 31.81 ▼ 0.56% VBBR3 34.45 ▲ 0.23% BBSE3 41.25 ▲ 0.17% BPAC11 56.25 ▼ 0.60% CURY3 30.96 ▼ 1.05% AERI3 2.04 ▲ 0.99% VIVARA 23.12 ▼ 0.99% COMPASS 24.96 ▲ 0.20% VAMOS 3.25 ▲ 2.85% SANB11 26.80 ▼ 0.11% ASAI3 8.41 ▼ 1.75% SBSP3 29.34 ▲ 0.14% WALMEX 50.30 ▲ 1.49% GMEXICO 198.85 ▼ 0.20% FEMSA 226.01 ▲ 0.42% CEMEX 22.68 ▼ 0.44% GFNORTE 179.00 ▼ 0.77% BIMBO 59.93 ▲ 3.47% TELEVISA 9.47 ▼ 0.42% AMX 22.97 ▲ 0.83% GAP 395.43 ▲ 0.94% ASUR 277.83 ▼ 1.11% OMA 233.16 ▲ 0.03% KOF 181.39 ▲ 1.36% GRUMA 288.47 ▲ 0.74% KIMBER 39.02 ▲ 0.62% SQM-B 62,089 ▼ 6.00% COPEC 6,137 ▲ 0.18% BSANTANDER 76.75 ▼ 1.80% FALABELLA 5,821 ▼ 0.54% ENELAM 85.02 ▲ 0.26% CENCOSUD 2,010 ▲ 0.25% CMPC 1,099 ▲ 2.33% BANCO CHILE 185.32 ▼ 1.88% LATAM AIR 24.38 ▼ 4.02% YPF 76,075 — 0.00% GGAL 7,865 — 0.00% PAMPA 5,110 — 0.00% TXAR 662.00 — 0.00% ALUAR 940.00 — 0.00% TGS 9,385 — 0.00% CEPU 2,260 — 0.00% MIRGOR 16,750 — 0.00% COME 44.46 — 0.00% LOMA NEGRA 3,558 — 0.00% BYMA 301.50 — 0.00% TELECOM ARG 4,180 — 0.00% ECOPETROL 15.99 ▲ 1.17% BANCOLOMBIA 79.47 — 0.00% GRUPO AVAL 4.94 ▼ 0.60% CREDICORP 384.32 ▼ 0.80% SOUTHERN COPPER 173.56 ▼ 1.20% BUENAVENTURA 29.65 ▼ 1.72% MERCADOLIBRE 1,815 ▼ 2.28% NUBANK 13.59 ▼ 1.45% XP 16.63 ▼ 0.33% PAGSEGURO 9.01 ▼ 1.53% STONE 11.07 ▼ 1.21% GLOBANT 32.22 ▲ 0.06% TECNOGLASS 46.89 ▲ 0.12% GAP AIRPORT 223.32 ▼ 0.87% ASUR 277.83 ▼ 1.11% OMA AIRPORT 106.34 ▼ 0.81% AMX ADR 26.18 ▲ 0.15% FEMSA ADR 129.18 ▼ 0.24% CEMEX ADR 12.96 ▼ 1.07% PETROBRAS ADR 17.93 ▲ 2.63% VALE ADR 14.18 ▼ 0.28% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.25 ▼ 0.85% AMBEV ADR 3.05 ▼ 0.02% CSN 0.99 ▼ 1.21% GERDAU 4.68 ▼ 0.85% LATAM ADR 52.46 ▼ 1.35% BTC 63,335 ▼ 0.71% ETH 1,828 ▼ 1.90% SOL 74.54 ▼ 0.97% XRP 1.08 ▼ 0.28% BNB 561.93 ▼ 1.79% ADA 0.16 ▲ 0.39% DOGE 0.07 ▼ 0.35% AVAX 6.50 ▼ 0.10% LINK 8.15 ▼ 2.22% DOT 0.85 ▼ 1.02% LTC 44.75 ▼ 0.43% BCH 218.40 ▼ 1.45% TRX 0.32 — 0.00% XLM 0.19 ▲ 1.18% HBAR 0.07 ▼ 0.45% NEAR 1.94 ▼ 1.40% ATOM 1.51 ▲ 0.29% AAVE 91.50 ▲ 0.41% SELIC 14.25% EMBRAER 81.86 ▲ 0.11% EMBRAER ADR 64.07 ▼ 0.47% JBS 12.17 ▲ 1.16% JBS BDR 62.32 ▲ 1.33% MBRF3 15.33 ▲ 0.26% MBRFY 2.93 — 0.00% INTER 5.42 ▼ 2.17% IBOV 173,731.28 ▼ 0.05% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,358.81 ▼ 0.08% MERVAL 3,185,257 — 0.00% COLCAP 2,285.11 ▼ 0.30% BVL PERÚ 57,220.16 — — USD/BRL 5.12 ▲ 0.41% USD/MXN 17.51 ▲ 0.48% USD/CLP 931.04 ▲ 0.65% USD/COP 3,256 ▲ 0.77% USD/PEN 3.40 ▲ 0.38% USD/ARS 1,480 ▲ 0.31% USD/UYU 40.23 ▲ 1.74% USD/PYG 6,032 ▲ 1.81% USD/BOB 10.65 ▲ 4.37% USD/DOP 58.24 ▲ 1.37% USD/CRC 446.12 ▲ 1.44% USD/GTQ 7.62 ▲ 2.73% USD/HNL 26.73 ▲ 1.94% USD/NIO 36.62 ▲ 1.17% USD/VES 730.65 ▲ 0.57% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.59 ▲ 0.87% USD/TTD 6.74 ▲ 1.70% EUR/BRL 5.86 ▲ 0.38% BRENT 87.08 ▲ 3.38% WTI 81.22 ▲ 2.88% IRON ORE 161.91 — — COPPER 6.25 ▼ 0.75% GOLD 4,001 ▲ 0.39% SILVER 56.03 ▲ 0.24% SOY 1,200 ▲ 0.42% CORN 464.00 ▲ 5.10% WHEAT 674.00 ▼ 0.11% COFFEE 319.20 ▼ 0.65% SUGAR 14.82 ▲ 2.63% ORANGE JUICE 130.65 ▼ 2.35% COTTON 78.43 ▲ 0.95% COCOA 5,522 ▲ 5.87% BEEF 222.30 ▼ 2.10% CATTLE 346.05 ▼ 0.16% LITHIUM 67.94 ▼ 1.34% PETR4 40.95 ▲ 2.66% VALE3 72.76 ▼ 0.30% ITUB4 42.09 ▼ 1.08% BBDC4 18.32 ▼ 0.49% ABEV3 15.73 ▲ 0.83% BBAS3 20.75 ▼ 0.05% B3SA3 15.34 ▼ 0.32% WEGE3 44.00 ▲ 1.17% PRIO3 57.87 ▲ 1.90% SUZB3 42.44 ▲ 1.77% RENT3 38.73 ▼ 0.33% AZZA3 18.69 ▲ 0.86% CSAN3 3.83 ▼ 1.29% RAIZ4 0.28 ▼ 3.45% PCAR3 2.59 — 0.00% GMAT3 3.83 ▼ 2.30% PSSA3 55.14 ▼ 0.14% CVCB3 1.34 ▼ 0.74% POSI3 3.88 — 0.00% SLCE3 13.54 ▼ 0.51% NATU3 8.54 ▼ 0.23% BRKM5 6.14 ▲ 0.66% RANI3 8.04 ▼ 0.50% CSNA3 5.03 ▼ 1.37% CMIN3 5.41 ▼ 0.73% USIM5 7.94 ▲ 0.51% GGBR4 23.86 ▼ 0.21% ENEV3 25.86 ▼ 0.35% CPFE3 47.29 ▲ 0.21% CMIG4 11.26 ▲ 1.53% EQTL3 39.85 — 0.00% LREN3 13.57 ▼ 0.59% VIVT3 35.59 ▲ 0.34% RAIL3 13.84 ▼ 0.65% KLABIN 17.57 ▲ 1.21% RAIA DROGASIL 18.30 ▼ 1.19% RDOR3 35.74 ▼ 0.36% HAPV3 11.33 ▲ 3.47% FLRY3 16.79 ▲ 2.25% SMTO3 15.55 ▼ 1.08% UGPA3 31.81 ▼ 0.56% VBBR3 34.45 ▲ 0.23% BBSE3 41.25 ▲ 0.17% BPAC11 56.25 ▼ 0.60% CURY3 30.96 ▼ 1.05% AERI3 2.04 ▲ 0.99% VIVARA 23.12 ▼ 0.99% COMPASS 24.96 ▲ 0.20% VAMOS 3.25 ▲ 2.85% SANB11 26.80 ▼ 0.11% ASAI3 8.41 ▼ 1.75% SBSP3 29.34 ▲ 0.14% WALMEX 50.30 ▲ 1.49% GMEXICO 198.85 ▼ 0.20% FEMSA 226.01 ▲ 0.42% CEMEX 22.68 ▼ 0.44% GFNORTE 179.00 ▼ 0.77% BIMBO 59.93 ▲ 3.47% TELEVISA 9.47 ▼ 0.42% AMX 22.97 ▲ 0.83% GAP 395.43 ▲ 0.94% ASUR 277.83 ▼ 1.11% OMA 233.16 ▲ 0.03% KOF 181.39 ▲ 1.36% GRUMA 288.47 ▲ 0.74% KIMBER 39.02 ▲ 0.62% SQM-B 62,089 ▼ 6.00% COPEC 6,137 ▲ 0.18% BSANTANDER 76.75 ▼ 1.80% FALABELLA 5,821 ▼ 0.54% ENELAM 85.02 ▲ 0.26% CENCOSUD 2,010 ▲ 0.25% CMPC 1,099 ▲ 2.33% BANCO CHILE 185.32 ▼ 1.88% LATAM AIR 24.38 ▼ 4.02% YPF 76,075 — 0.00% GGAL 7,865 — 0.00% PAMPA 5,110 — 0.00% TXAR 662.00 — 0.00% ALUAR 940.00 — 0.00% TGS 9,385 — 0.00% CEPU 2,260 — 0.00% MIRGOR 16,750 — 0.00% COME 44.46 — 0.00% LOMA NEGRA 3,558 — 0.00% BYMA 301.50 — 0.00% TELECOM ARG 4,180 — 0.00% ECOPETROL 15.99 ▲ 1.17% BANCOLOMBIA 79.47 — 0.00% GRUPO AVAL 4.94 ▼ 0.60% CREDICORP 384.32 ▼ 0.80% SOUTHERN COPPER 173.56 ▼ 1.20% BUENAVENTURA 29.65 ▼ 1.72% MERCADOLIBRE 1,815 ▼ 2.28% NUBANK 13.59 ▼ 1.45% XP 16.63 ▼ 0.33% PAGSEGURO 9.01 ▼ 1.53% STONE 11.07 ▼ 1.21% GLOBANT 32.22 ▲ 0.06% TECNOGLASS 46.89 ▲ 0.12% GAP AIRPORT 223.32 ▼ 0.87% ASUR 277.83 ▼ 1.11% OMA AIRPORT 106.34 ▼ 0.81% AMX ADR 26.18 ▲ 0.15% FEMSA ADR 129.18 ▼ 0.24% CEMEX ADR 12.96 ▼ 1.07% PETROBRAS ADR 17.93 ▲ 2.63% VALE ADR 14.18 ▼ 0.28% ITAU ADR 8.21 ▼ 1.14% SANTANDER BR 5.25 ▼ 0.85% AMBEV ADR 3.05 ▼ 0.02% CSN 0.99 ▼ 1.21% GERDAU 4.68 ▼ 0.85% LATAM ADR 52.46 ▼ 1.35% BTC 63,335 ▼ 0.71% ETH 1,828 ▼ 1.90% SOL 74.54 ▼ 0.97% XRP 1.08 ▼ 0.28% BNB 561.93 ▼ 1.79% ADA 0.16 ▲ 0.39% DOGE 0.07 ▼ 0.35% AVAX 6.50 ▼ 0.10% LINK 8.15 ▼ 2.22% DOT 0.85 ▼ 1.02% LTC 44.75 ▼ 0.43% BCH 218.40 ▼ 1.45% TRX 0.32 — 0.00% XLM 0.19 ▲ 1.18% HBAR 0.07 ▼ 0.45% NEAR 1.94 ▼ 1.40% ATOM 1.51 ▲ 0.29% AAVE 91.50 ▲ 0.41% SELIC 14.25% EMBRAER 81.86 ▲ 0.11% EMBRAER ADR 64.07 ▼ 0.47% JBS 12.17 ▲ 1.16% JBS BDR 62.32 ▲ 1.33% MBRF3 15.33 ▲ 0.26% MBRFY 2.93 — 0.00% INTER 5.42 ▼ 2.17%
since 2009
Friday, July 17, 2026

Latin America Ecuador

Trade and Talks Stalled: Sheinbaum Keeps Mexico-Ecuador Diplomatic Rift Unresolved Under Noboa

By · April 17, 2025 · 2 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

On April 16, 2025, Mexico’s President Claudia Sheinbaum made clear that her administration will not restore diplomatic relations with Ecuador as long as Daniel Noboa remains in power.

This stance follows a year of frozen relations after Ecuadorian security forces stormed the Mexican embassy in Quito to arrest former vice president Jorge Glas, who had sought asylum there.

Sheinbaum’s position reflects a hard line on sovereignty and diplomatic law. She refuses to engage with Noboa’s government, citing Ecuador’s breach of international agreements that protect diplomatic missions.

Sheinbaum’s words signal that Mexico will not back down or negotiate until Ecuador’s leadership changes or the country acknowledges wrongdoing. Ecuador’s President Noboa, meanwhile, has shown some willingness to talk but draws his own red line.

He refuses to grant safe passage to Glas, convicted of corruption in Ecuador, arguing that national law and court decisions must prevail over external demands.

Trade and Talks Stalled: Sheinbaum Keeps Mexico-Ecuador Diplomatic Rift Unresolved Under Noboa
Trade and Talks Stalled: Sheinbaum Keeps Mexico-Ecuador Diplomatic Rift Unresolved Under Noboa. (Photo Internet reproduction)
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

Noboa insists that Ecuador cannot compromise its legal principles, even if it means a prolonged diplomatic freeze. The rupture has real consequences for both countries.

Mexico-Ecuador Trade Tensions

Trade between Mexico and Ecuador stands at $824 million annually, a small fraction of Mexico’s global trade but significant for Ecuador. Mexican exports to Ecuador include pharmaceuticals and vehicles; Ecuador sends cocoa, copper, and seafood north.

With diplomatic channels closed, business deals face more hurdles, and cooperation on security and migration has stalled. Both leaders use the crisis to reinforce their domestic agendas.

Sheinbaum projects resolve and respect for international law, while Noboa positions himself as tough on corruption and crime. Each appeals to national pride and legal principle, leaving little room for compromise.

Behind the headlines, the deadlock exposes how political interests and legal disputes can disrupt trade and regional cooperation. Neither side appears ready to concede.

As long as Noboa stays in office, Sheinbaum’s Mexico will keep the door shut, making clear that diplomatic relations are not just about protocol—they are about power, law, and the willingness to stand firm, even at an economic cost.

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.