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    BBVA Research

    Our featured publications

    February 22, 2025

    Global | Real-Time CO₂ Tracking: Balancing Higher Frequency with Greater Reliability

    Carbon Monitor, a high-frequency CO₂ tracker, enhances real-time sectoral and regional monitoring while aligning with IPCC guidelines. However, daily estimates face accuracy challenges, limiting their utility.

    February 19, 2025

    Mexico | Temporary nature of textile tariffs must be enforced; emphasizing customs control

    Mexico imposes temporary tariffs of 15 to 35% on 155 tariff items in the textile and clothing industry, modifies the Immex Decree to limit access in these sectors. Finally, it establishes a global rate of 19% on products imported through digital platforms from countries without a trade agreement, including China.

    February 14, 2025

    Mexico | US imposes tariffs on steel, aluminum, and derivatives

    On February 10, President Trump signed an executive order imposing a 25% tax on all steel and aluminum imports regardless of their country of origin, which will take effect on March 12.

    February 14, 2025

    Spain | Reaping the Benefits of Renewable Energy in the Spanish Economy

    This study investigates how much the growing penetration of low-marginal-cost renewables contributes to lowering prices, and whether a ‘merit-order effect’ could limit the further expansion of renewable energy in Spain.

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    Our most recent publications

    February 27, 2025

    US | Do lower yields signal that the Fed might shift its focus back to growth risks?

    A recent string of weak data together with the postponement of tariffs and a less worrisome fiscal bill than feared likely eased market participants’ bets of a scenario in which the Fed keeps interest rates at their current level for the whole year.

    February 27, 2025

    Mexico | Current account surplus reflects economic contraction in 4Q24

    The current account surplus in the fourth quarter of 2024 was higher than the corresponding figure for the third quarter of 2024 mainly due to the surplus in the balance on non-oil related goods.

    February 27, 2025

    Mexico | Low Probability of Lasting Tariffs

    Although the U.S. has threatened to impose 25% tariffs on imports from Mexico, this measure seems unlikely due to the economic and political costs it would bring to the U.S. economy:

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