Daily Update — September 22, 2025
Latin American Climate Policies; Mexican Tariffs on Automobiles; and India’s Growth Outlook
Today is Monday, September 22, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Ahead of COP 30, a changing landscape for Latin America
Amid weakened climate policy commitments and investments due to rising geopolitical risks, the annual UN Climate Change Conference will bring climate and nature action to the forefront of private investment and fiscal expenditure discussions. The November 2025 event, known as COP 30, will take place in Brazil, putting Latin America in the spotlight.
This report provides an overview of the fiscal landscape and energy transition story of Latin America. It also outlines the current outlook for the sustainable debt market and climate financing from multilateral development banks in the region.
Global Trade
Mexican Tariffs: A Speedbump To Chinese Auto Firms' Overseas Expansion
On Sept. 10, the Mexican government announced a plan to raise import tariffs on automobiles to 50% and tariffs on auto parts to 10%-50% from countries without existing trade agreements with Mexico.
The government said the initiative is aimed at protecting local employment and is likely to take effect before Dec. 31, 2026. Asian countries, including China, India, Indonesia, Thailand and South Korea, are among those most affected. The substantial tariff increase will dampen the competitiveness of Chinese carmakers in Mexico. In 2025, Mexico surpassed Russia to become China's largest auto export market. Autos exported from China to Mexico reached 322,000 units, representing 8% of China’s total auto exports, in the first seven months of 2025, according to China Customs data.
Economy
Listen: India Forward: Shifting Horizons | Look Forward Podcast
In this episode of the “Look Forward” podcast, host Andy Critchlow, head of news at S&P Global Commodity Insights, delves into the dynamic and resilient market of India. As the global geopolitical landscape shifts, India has become a pivotal player in the next chapter of global growth.
S&P Global experts Gauri Jauhar, Deepa Kumar and Atul Arya joined the discussion to unpack India Forward: Shifting Horizons, which offers insights into India's outlook for 2025 and beyond.
In case you missed it
- Daily transits of commercial vessels through the Panama Canal are expected to remain below capacity in 2026 due to the tariff-linked frontloading of US imports this year and the softer demand the duties will cause on the East and Gulf coasts.
- Despite a more welcoming federal permitting environment in Washington, supply chain delays and litigation risk are challenging midstream natural gas project timelines and budgets.
- A sluggish start to China's passenger vehicle retail sales in September, coupled with slower year-over-year growth reported in August, contributed to a weaker sales outlook for the remainder of the year, potentially putting pressure on the cold-rolled coil steel market.
Upcoming events
- S&P Healthcare Credit Vital Signs: Outlook Checkup, Early Thoughts for 2026 | September 23 (Webinar)
- Investing Under Uncertainty: Beyond the Energy Transition | September 23 (Webinar)
- CERAWeek 2026 | March 23–27, 2026 (Houston)