Mexico Links Remittances Drop to U.S. Migration Policies Changes
(MENAFN) Mexican President Claudia Sheinbaum announced Friday that changes in U.S. migration policies have led to a significant decline in remittances sent by Mexicans living in the United States. She revealed that remittance flows fell by 16 percent from June to July and have decreased roughly 5 percent year-to-date in 2025, returning to levels last seen in 2022.
"Remittances increased substantially in 2023 and even more in 2024. Now we are at levels similar to 2022," Sheinbaum stated during a daily press briefing in Mexico City.
She pinpointed U.S. migration policy as the primary cause, saying, "What explains this? Above all, the policies the United States has imposed on our migrant brothers and sisters."
The Mexican government, alongside the central bank, is currently evaluating the economic impact of this downturn and exploring strategies to support families dependent on these funds. Despite the drop, Sheinbaum emphasized, the situation "does not pose a risk to Mexico's overall economy."
Starting in 2026, the U.S. plans to implement a 1 percent tax on outbound remittances. Mexico has responded by announcing a special reimbursement program to offset this cost for migrant cash transfers.
In 2024, official data showed Mexico received $62.5 billion in remittances from approximately 8 million Mexicans residing in the U.S.
Experts caution that increased fees could push undocumented migrants toward informal remittance methods, potentially expanding the irregular market.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
