'We are reviewing the treaty' - Mexico starts USMCA, announces multi-million-dollar investment by Brazil's Pilgrim

"Marcelo Ebrard, Mexico’s Secretary of Economy, said the Mexican government is reviewing the USMCA trade agreement alongside the United States and Canada. The review, which began after internal consultations late last year, is set to conclude by July 1, 2026. "We were working for more than 100 days, and we have practically finished everything before the review of the treaty. So, I would tell you that we are already in the review of the Treaty. We have to finish on July 1," Ebrard said on Thursday during President Claudia Sheinbaum's morning press conference. The process refers to the USMCA consultation and review, in which Mexico, the United States, and Canada are examining issues raised last year. Each country will review the points of concern and prepare a report on the results of the consultations. Brazilian company Pilgrim's announced a major investment in Mexico as part of the government's plan to boost domestic production, especially in the food industry. "The company Pilgrims is going to invest $1,3 billion. These are more than 4,000 direct jobs; it means that Mexico will stop importing 35 per cent of the total chicken imports to Mexico; they will be produced in our country," explained the Secretary of Economy. Jesus Munoz, president of Pilgrim's Mexico, detailed that the investment will be carried out in stages over the next five years, with an emphasis on modernizing production plants in the north of the country. "With the intention of investing $1,3 billion over the next five years. Our operations, mainly installed in Torreon, Durango, Queretaro, San Luis Potosi, Hidalgo, Veracruz, Campeche and Yucatan," said the businessman. During the presser, President Sheinbaum also announced that initial diplomatic talks have begun regarding a potential visit by Pope Leo XIV to Mexico."