IBOV 173,871.39 ▼ 1.22% 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▲ 0.49% USD/MXN17.43▲ 0.24% USD/CLP927.20▲ 0.13% USD/COP3,214▼ 1.41% USD/PEN3.39▲ 0.21% USD/ARS1,475▼ 0.10% 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▲ 0.55% BRENT 85.40 ▲ 0.53% WTI 80.07 ▲ 0.59% IRON ORE 161.91 — — COPPER 6.36 ▲ 1.02% GOLD 4,003 ▼ 1.02% SILVER 56.34 ▼ 1.36% SOY 1,204 ▲ 0.17% CORN 467.50 ▲ 4.47% WHEAT 683.00 ▲ 0.81% COFFEE 315.25 ▼ 5.74% SUGAR 14.45 ▼ 2.69% ORANGE JUICE 135.90 ▼ 2.12% COTTON 79.83 ▼ 0.91% COCOA 5,590 ▼ 2.56% BEEF 224.13 ▼ 2.61% CATTLE 346.83 ▼ 0.89% LITHIUM 69.36 ▼ 2.39% PETR4 40.68 ▲ 0.22% VALE3 73.09 ▼ 1.91% ITUB4 42.64 ▼ 1.16% BBDC4 18.33 ▼ 1.45% ABEV3 15.64 ▲ 0.45% BBAS3 20.62 ▲ 0.34% B3SA3 15.42 ▼ 1.72% WEGE3 44.04 ▼ 0.50% PRIO3 57.57 ▲ 0.12% SUZB3 41.88 ▲ 0.96% RENT3 39.57 ▼ 1.93% AZZA3 18.52 ▼ 0.75% CSAN3 3.88 ▼ 1.27% RAIZ4 0.29 — 0.00% PCAR3 2.65 ▲ 1.15% GMAT3 3.91 ▼ 1.76% PSSA3 54.99 ▼ 0.42% CVCB3 1.36 ▲ 1.49% POSI3 3.85 ▼ 2.53% SLCE3 13.64 ▲ 1.04% NATU3 8.63 ▼ 0.46% BRKM5 6.26 ▼ 2.34% RANI3 8.01 ▲ 0.38% CSNA3 5.17 ▼ 1.34% CMIN3 5.42 ▲ 3.44% USIM5 8.22 ▲ 0.24% GGBR4 24.26 ▲ 0.25% ENEV3 26.30 ▼ 2.41% CPFE3 46.77 ▼ 0.13% CMIG4 11.05 ▼ 0.90% EQTL3 39.80 ▼ 1.31% LREN3 13.80 ▼ 2.13% VIVT3 35.50 ▲ 0.08% RAIL3 13.95 ▼ 0.85% KLABIN 17.46 ▲ 0.40% RAIA DROGASIL 18.71 ▲ 0.21% RDOR3 35.74 ▼ 0.75% HAPV3 10.89 ▼ 0.91% FLRY3 16.42 ▼ 0.55% SMTO3 15.64 ▲ 0.71% UGPA3 31.71 ▲ 1.96% VBBR3 34.18 ▲ 1.27% BBSE3 41.09 ▲ 0.93% BPAC11 56.57 ▼ 0.82% CURY3 31.96 ▼ 2.35% AERI3 2.02 — 0.00% VIVARA 23.33 ▼ 0.81% COMPASS 25.00 ▼ 0.44% VAMOS 3.14 ▲ 0.64% SANB11 26.81 ▼ 0.70% ASAI3 8.60 ▼ 0.69% SBSP3 29.56 ▼ 1.40% WALMEX 49.64 ▼ 0.12% GMEXICO 200.21 — 0.00% FEMSA 225.88 ▲ 1.33% CEMEX 22.88 ▲ 1.15% GFNORTE 180.66 ▼ 1.53% BIMBO 58.69 ▲ 2.03% TELEVISA 9.54 ▼ 0.21% AMX 22.81 ▲ 0.04% GAP 392.97 ▼ 1.03% ASUR 280.68 ▼ 0.98% OMA 233.57 ▼ 0.69% KOF 179.46 ▲ 1.41% GRUMA 283.38 ▲ 0.73% KIMBER 38.69 ▲ 0.08% 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 78,775 ▲ 0.29% GGAL 8,030 ▼ 2.13% PAMPA 5,160 ▼ 1.53% TXAR 666.00 ▼ 0.75% ALUAR 952.00 ▼ 0.78% TGS 9,615 ▼ 1.38% CEPU 2,303 ▼ 1.75% MIRGOR 16,600 ▼ 2.21% COME 45.30 ▼ 0.72% LOMA NEGRA 3,600 ▼ 0.35% BYMA 303.25 ▼ 0.25% TELECOM ARG 4,255 ▼ 1.39% ECOPETROL 15.77 ▼ 1.31% BANCOLOMBIA 79.70 ▼ 2.27% GRUPO AVAL 5.01 ▼ 0.40% CREDICORP 392.98 ▼ 1.31% SOUTHERN COPPER 178.49 ▼ 1.68% BUENAVENTURA 30.22 ▼ 1.60% MERCADOLIBRE 1,849 ▲ 0.32% NUBANK 13.74 ▼ 1.04% XP 16.60 ▼ 1.63% PAGSEGURO 9.17 ▼ 0.43% STONE 11.23 ▼ 0.49% GLOBANT 31.56 ▼ 1.33% TECNOGLASS 47.16 ▲ 3.26% GAP AIRPORT 225.64 ▼ 0.95% ASUR 280.68 ▼ 0.98% OMA AIRPORT 107.82 ▼ 0.07% AMX ADR 26.15 ▲ 0.13% FEMSA ADR 129.85 ▲ 0.84% CEMEX ADR 13.13 ▲ 0.46% PETROBRAS ADR 17.79 ▼ 0.42% VALE ADR 14.30 ▼ 2.56% ITAU ADR 8.35 ▼ 1.24% SANTANDER BR 5.27 ▼ 1.59% AMBEV ADR 3.05 ▲ 0.50% CSN 1.02 ▼ 0.97% GERDAU 4.79 ▼ 0.31% LATAM ADR 54.03 ▼ 1.53% BTC 64,643 ▼ 0.11% ETH 1,886 ▼ 1.59% SOL 76.54 ▼ 0.94% XRP 1.11 — 0.00% BNB 579.68 ▼ 0.07% ADA 0.16 ▼ 0.61% DOGE 0.07 ▼ 0.51% AVAX 6.64 ▼ 0.84% LINK 8.45 ▼ 0.96% DOT 0.85 ▲ 0.30% LTC 44.87 ▼ 0.56% BCH 223.54 ▲ 0.17% TRX 0.32 ▼ 0.32% XLM 0.19 ▲ 1.41% HBAR 0.07 ▼ 0.61% NEAR 2.07 ▲ 0.14% ATOM 1.53 ▼ 1.45% AAVE 94.00 ▼ 1.91% SELIC 14.25% EMBRAER 82.67 ▲ 0.39% EMBRAER ADR 64.78 ▼ 0.18% JBS 12.18 ▲ 0.62% JBS BDR 61.87 ▲ 0.72% MBRF3 15.24 ▼ 1.04% MBRFY 2.95 ▲ 2.79% INTER 5.46 ▼ 2.85% EGX 52,928 ▲ 0.70% USD/ZAR16.42▲ 0.57% 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/JPY162.39▲ 0.13% USD/CNY6.76▼ 0.10% DAX 24,810 ▼ 0.76% CAC 8,335 ▼ 0.57% FTSE 10,506 ▼ 0.10% MIB 52,118 ▼ 0.56% IBEX 19,191 ▼ 0.44% STOXX 641.37 ▼ 0.21% EUR/USD1.14▼ 0.14% GBP/USD1.35▲ 0.80% SPX 7,570 ▼ 0.03% DJI 52,740 ▲ 0.15% NDX 29,288 ▼ 0.73% RUT 2,996 ▲ 0.66% TSX 35,329 ▼ 0.25% VIX 15.97 ▲ 1.91% USD/CAD1.40▼ 0.13% US10Y 4.5800 ▲ 0.77% IBOV 173,871.39 ▼ 1.22% 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 ▲ 0.49% USD/MXN 17.43 ▲ 0.24% USD/CLP 927.20 ▲ 0.13% USD/COP 3,214 ▼ 1.41% USD/PEN 3.39 ▲ 0.21% USD/ARS 1,475 ▼ 0.10% 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 ▲ 0.55% BRENT 85.40 ▲ 0.53% WTI 80.07 ▲ 0.59% IRON ORE 161.91 — — COPPER 6.36 ▲ 1.02% GOLD 4,003 ▼ 1.02% SILVER 56.34 ▼ 1.36% SOY 1,204 ▲ 0.17% CORN 467.50 ▲ 4.47% WHEAT 683.00 ▲ 0.81% COFFEE 315.25 ▼ 5.74% SUGAR 14.45 ▼ 2.69% ORANGE JUICE 135.90 ▼ 2.12% COTTON 79.83 ▼ 0.91% COCOA 5,590 ▼ 2.56% BEEF 224.13 ▼ 2.61% CATTLE 346.83 ▼ 0.89% LITHIUM 69.36 ▼ 2.39% PETR4 40.68 ▲ 0.22% VALE3 73.09 ▼ 1.91% ITUB4 42.64 ▼ 1.16% BBDC4 18.33 ▼ 1.45% ABEV3 15.64 ▲ 0.45% BBAS3 20.62 ▲ 0.34% B3SA3 15.42 ▼ 1.72% WEGE3 44.04 ▼ 0.50% PRIO3 57.57 ▲ 0.12% SUZB3 41.88 ▲ 0.96% RENT3 39.57 ▼ 1.93% AZZA3 18.52 ▼ 0.75% CSAN3 3.88 ▼ 1.27% RAIZ4 0.29 — 0.00% PCAR3 2.65 ▲ 1.15% GMAT3 3.91 ▼ 1.76% PSSA3 54.99 ▼ 0.42% CVCB3 1.36 ▲ 1.49% POSI3 3.85 ▼ 2.53% SLCE3 13.64 ▲ 1.04% NATU3 8.63 ▼ 0.46% BRKM5 6.26 ▼ 2.34% RANI3 8.01 ▲ 0.38% CSNA3 5.17 ▼ 1.34% CMIN3 5.42 ▲ 3.44% USIM5 8.22 ▲ 0.24% GGBR4 24.26 ▲ 0.25% ENEV3 26.30 ▼ 2.41% CPFE3 46.77 ▼ 0.13% CMIG4 11.05 ▼ 0.90% EQTL3 39.80 ▼ 1.31% LREN3 13.80 ▼ 2.13% VIVT3 35.50 ▲ 0.08% RAIL3 13.95 ▼ 0.85% KLABIN 17.46 ▲ 0.40% RAIA DROGASIL 18.71 ▲ 0.21% RDOR3 35.74 ▼ 0.75% HAPV3 10.89 ▼ 0.91% FLRY3 16.42 ▼ 0.55% SMTO3 15.64 ▲ 0.71% UGPA3 31.71 ▲ 1.96% VBBR3 34.18 ▲ 1.27% BBSE3 41.09 ▲ 0.93% BPAC11 56.57 ▼ 0.82% CURY3 31.96 ▼ 2.35% AERI3 2.02 — 0.00% VIVARA 23.33 ▼ 0.81% COMPASS 25.00 ▼ 0.44% VAMOS 3.14 ▲ 0.64% SANB11 26.81 ▼ 0.70% ASAI3 8.60 ▼ 0.69% SBSP3 29.56 ▼ 1.40% WALMEX 49.64 ▼ 0.12% GMEXICO 200.21 — 0.00% FEMSA 225.88 ▲ 1.33% CEMEX 22.88 ▲ 1.15% GFNORTE 180.66 ▼ 1.53% BIMBO 58.69 ▲ 2.03% TELEVISA 9.54 ▼ 0.21% AMX 22.81 ▲ 0.04% GAP 392.97 ▼ 1.03% ASUR 280.68 ▼ 0.98% OMA 233.57 ▼ 0.69% KOF 179.46 ▲ 1.41% GRUMA 283.38 ▲ 0.73% KIMBER 38.69 ▲ 0.08% 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 78,775 ▲ 0.29% GGAL 8,030 ▼ 2.13% PAMPA 5,160 ▼ 1.53% TXAR 666.00 ▼ 0.75% ALUAR 952.00 ▼ 0.78% TGS 9,615 ▼ 1.38% CEPU 2,303 ▼ 1.75% MIRGOR 16,600 ▼ 2.21% COME 45.30 ▼ 0.72% LOMA NEGRA 3,600 ▼ 0.35% BYMA 303.25 ▼ 0.25% TELECOM ARG 4,255 ▼ 1.39% ECOPETROL 15.77 ▼ 1.31% BANCOLOMBIA 79.70 ▼ 2.27% GRUPO AVAL 5.01 ▼ 0.40% CREDICORP 392.98 ▼ 1.31% SOUTHERN COPPER 178.49 ▼ 1.68% BUENAVENTURA 30.22 ▼ 1.60% MERCADOLIBRE 1,849 ▲ 0.32% NUBANK 13.74 ▼ 1.04% XP 16.60 ▼ 1.63% PAGSEGURO 9.17 ▼ 0.43% STONE 11.23 ▼ 0.49% GLOBANT 31.56 ▼ 1.33% TECNOGLASS 47.16 ▲ 3.26% GAP AIRPORT 225.64 ▼ 0.95% ASUR 280.68 ▼ 0.98% OMA AIRPORT 107.82 ▼ 0.07% AMX ADR 26.15 ▲ 0.13% FEMSA ADR 129.85 ▲ 0.84% CEMEX ADR 13.13 ▲ 0.46% PETROBRAS ADR 17.79 ▼ 0.42% VALE ADR 14.30 ▼ 2.56% ITAU ADR 8.35 ▼ 1.24% SANTANDER BR 5.27 ▼ 1.59% AMBEV ADR 3.05 ▲ 0.50% CSN 1.02 ▼ 0.97% GERDAU 4.79 ▼ 0.31% LATAM ADR 54.03 ▼ 1.53% BTC 64,643 ▼ 0.11% ETH 1,886 ▼ 1.59% SOL 76.54 ▼ 0.94% XRP 1.11 — 0.00% BNB 579.68 ▼ 0.07% ADA 0.16 ▼ 0.61% DOGE 0.07 ▼ 0.51% AVAX 6.64 ▼ 0.84% LINK 8.45 ▼ 0.96% DOT 0.85 ▲ 0.30% LTC 44.87 ▼ 0.56% BCH 223.54 ▲ 0.17% TRX 0.32 ▼ 0.32% XLM 0.19 ▲ 1.41% HBAR 0.07 ▼ 0.61% NEAR 2.07 ▲ 0.14% ATOM 1.53 ▼ 1.45% AAVE 94.00 ▼ 1.91% SELIC 14.25% EMBRAER 82.67 ▲ 0.39% EMBRAER ADR 64.78 ▼ 0.18% JBS 12.18 ▲ 0.62% JBS BDR 61.87 ▲ 0.72% MBRF3 15.24 ▼ 1.04% MBRFY 2.95 ▲ 2.79% INTER 5.46 ▼ 2.85% EGX 52,928 ▲ 0.70% USD/ZAR 16.41 ▲ 0.78% 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 162.39 ▲ 0.16% USD/CNY 6.7610 ▲ 0.05% DAX 24,810 ▼ 0.76% CAC 8,335 ▼ 0.57% FTSE 10,506 ▼ 0.10% MIB 52,118 ▼ 0.56% IBEX 19,191 ▼ 0.44% STOXX 641.37 ▼ 0.21% EUR/USD 1.1453 ▼ 0.13% GBP/USD 1.3509 ▼ 0.21% SPX 7,570 ▼ 0.03% DJI 52,740 ▲ 0.15% NDX 29,288 ▼ 0.73% RUT 2,996 ▲ 0.66% TSX 35,329 ▼ 0.25% VIX 15.97 ▲ 1.91% USD/CAD 1.4021 ▼ 0.11% US10Y 4.5800 ▲ 0.77%
since 2009
Thursday, July 16, 2026

World Cup Draw Becomes First Real Test Of Trump–Sheinbaum Relations

By · December 4, 2025 · 2 min read

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Key Points

  1. A World Cup ceremony in Washington doubles as the stage for the first face-to-face meeting between Donald Trump and Claudia Sheinbaum.
  2. Behind the smiles, a serious fight over U.S. tariffs and the future of North America’s main trade deal will be in the room.
  3. The tone of this brief encounter could shape jobs, prices and investment decisions across Mexico, the United States and Canada.

The story begins with football, not politics. Mexico, the United States and Canada are co-hosting the 2026 World Cup. Friday’s draw in Washington is supposed to be a glamorous, harmless show at the Kennedy Center.

Yet, just before the cameras roll, Trump and Mexican President Claudia Sheinbaum will meet in person for the first time, joined briefly by Canadian Prime Minister Mark Carney. On the surface, it is a courtesy meeting between neighbours.

In reality, it comes after months of tariff pressure from Washington. Trump has slapped higher duties on Mexican goods that sit outside the USMCA trade agreement, targeting industrial products and metals and justifying the move with arguments about migration, drugs and trade imbalances.

World Cup Draw Becomes First Real Test Of Trump–Sheinbaum Relations. (Photo Internet reproduction)
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Mexico depends heavily on the U.S. market for its exports, so even “selective” tariffs quickly hit factories, logistics firms and cross-border supply chains. The timing is no accident.

USMCA at a Crossroads

In 2026, the three countries must sit down to review USMCA itself. Trump advisers openly float using the threat of withdrawal, as they once did with NAFTA, to force stricter conditions on border enforcement and market access.

For companies planning where to build plants or source components, that kind of talk has real costs. Sheinbaum has travelled abroad far less than many leaders and has chosen this sports event for her first U.S. trip as president.

Mexican media and social networks call it “World Cup diplomacy” and endlessly debate whether she should confront Trump or keep things smooth and businesslike.

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