Mexico · United States · Canada · Global

Executive Summary | Reference Week 8 | Wednesday 18-02-2026

SEMUDMEX – Strategic Customs & Trade Advisory

MEXICO – Strategic Trade Developments

• Mexico–Canada bilateral economic action plan ahead of USMCA review (El País (16-02-2026); Reuters (18-02-2026))

Operational Explanation: Mexico and Canada advanced a coordinated economic strategy focused on critical minerals, clean technologies and advanced manufacturing prior to the 2026 USMCA review.

SEMUDMEX Practical Risk Assessment: Anticipate tighter trilateral coordination on regional value content and mineral sourcing transparency.

 UNITED STATES – Supreme Court Tariff Decision

• U.S. Supreme Court rules Trump exceeded authority imposing broad tariffs under IEEPA (Reuters (20-02-2026); U.S. Supreme Court decision)

Operational Explanation: The Court determined that IEEPA does not authorize sweeping global tariffs without Congressional approval. Certain tariffs are invalidated; Section 232 tariffs remain unaffected.

SEMUDMEX Practical Risk Assessment: Review tariff exposure, refund eligibility and contract clauses immediately. Expect litigation and administrative refund procedures.

• Expanded Mexico–Canada cooperation in critical minerals and security (El País (16-02-2026))

Operational Explanation: Delegations confirmed joint investment efforts in lithium and strategic supply chains linked to automotive and technology sectors.

SEMUDMEX Practical Risk Assessment: Automotive and electronics exporters must prepare for stricter origin substantiation requirements.

UNITED STATES – Tariff & Political Volatility

• U.S. House votes to repeal tariffs on Canadian goods (Reuters (11-02-2026); Financial Times (11-02-2026))

Operational Explanation: The House supported legislative action targeting previously imposed tariffs, signaling tariff-policy volatility.

SEMUDMEX Practical Risk Assessment: Revise landed-cost projections and tariff-related contract clauses immediately.

GLOBAL – Critical Minerals & Strategic Realignment

• U.S.–Uzbekistan critical minerals investment pact (Reuters (18-02-2026))

Operational Explanation: The agreement aims to diversify supply of tungsten, lithium and rare inputs outside traditional Asian dependency.

SEMUDMEX Practical Risk Assessment: Reassess sourcing maps and compliance documentation.

• U.S. multilateral initiative on mineral security with EU and Japan (Reuters (11-02-2026))

Operational Explanation: Expands coordination on mineral security and supply-chain resilience.

SEMUDMEX Practical Risk Assessment: Regional content calculations under USMCA may face greater scrutiny.

• Mexico clarifies sovereignty stance in mineral negotiations with U.S. (El País (12-02-2026))

Operational Explanation: Leadership emphasized cooperative and multilateral negotiation approach.

SEMUDMEX Practical Risk Assessment: Political signaling may shape future compliance standards affecting energy exports.

TRILATERAL DYNAMICS – USMCA Stability

• Mexico and Canada reaffirm commitment to maintain and strengthen USMCA (Reuters (18-02-2026))

Operational Explanation: Both governments reiterated preserving the trilateral agreement amid political debates.

SEMUDMEX Practical Risk Assessment: Prepare for structured review adjustments rather than collapse scenarios.