LatinNews Daily - 11 June 2025

*The international credit ratings agency Fitch has warned that Mexico is set to enter a technical recession this year as a result of US tariffs, with GDP expected to contract in the second and third quarters. Fitch’s mid-year outlook report on global sovereigns did not provide a specific growth forecast for Mexico. However, the report, cited in the local press, notes that Mexico is particularly exposed to the tariffs and that the country is also grappling with slowing growth in its main economic partners, the US and China. More broadly, Fitch noted that the US tariffs may reduce or delay the benefits of nearshoring for Latin America, although it added that the depreciation of the US dollar is providing central banks with enough breathing room to continue cutting interest rates.

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