Mexico in February 2026: the most important developments in economy
Mexico's economy in February 2026 was marked by its links with the United States and by the fuel crisis in Cuba. On February 4 the US announced critical minerals partnerships and an action plan with the European Union, Mexico and Japan, aimed at coordinating trade policy and building supply chains for materials used in electric vehicles and renewable energy. The same day Mexico agreed to make its water deliveries to the US more predictable, increasing supply; President Donald Trump had threatened Mexico over the issue. Reports also noted that the state oil company Pemex supplied $496 million worth of oil to Cuba in 2025. On February 9 President Claudia Sheinbaum said new US tariffs on Cuba would be 'unfair' and would 'strangle' the Cuban economy, and announced that Mexico is suspending oil supplies to the island while continuing humanitarian aid.
Domestic policy moved on several fronts. Mexico lifted its ban on fracking, and the government planned to recover 200 mining concessions. Congress approved a bill cutting the standard workweek from 48 to 40 hours, to be fully in place by 2030; critics said the phased schedule is insufficient. The government and business leaders sought to attract more investment. Inflation accelerated in January as new taxes took effect, while the central bank and the OECD raised their growth forecasts for Mexico.
In business, TV Azteca, the broadcaster controlled by Salinas, announced bankruptcy proceedings on February 26. Cemex will acquire the US stucco maker Omega Products, and a top-selling Chinese electric car model arrived in the Mexican market. A Banamex report estimated that 30% of formal jobs could be replaced by artificial intelligence. The Sheinbaum administration threatened legal action against Elon Musk, and reports said a hacker used the AI model Claude to steal sensitive data from Mexican government systems.
by WorldBrief & Maksim Micheliov | AI-generated summary
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