By Aida Pelaez-Fernandez

MEXICO CITY (Reuters) – The majority of Mexican business executives see the country’s economy stagnating in 2025 amid uncertainty over U.S. and Mexican government changes as well as global geopolitical tensions and conflicts. in trade, a survey published on Friday found.

IN THE NUMBERS

About 60% of the nearly 700 executives surveyed by the consultancy KPMG expect the Mexican economy to stop in 2025, while 24% predict a recession.

CONTEXT

A threat by US President-elect Donald Trump in November to impose a 25% tariff on imports from Mexico on his first day back in office posed a test for Mexico’s new president, Claudia Sheinbaum, which sought to quell fears about the future of the key trade relationship with the US

WHY IT’S IMPORTANT

Mexico is the United States’ top trading partner. The Bank of Mexico predicts the economy will grow 1.2% in 2025, from a forecast of 1.8% in 2024.

GOOD LUCK

KPMG’s Ricardo Delfin highlighted Trump’s return and his threats of tariffs on Mexico, as well as US trade tensions with China, as important contributors to global complexity.

“We have to learn to live and adapt to destructive and complex worlds,” said Delfin, KPMG’s clients and market head in Mexico, in a press conference.