In 2024, Mexico solidified its position as the main trading partner of the United States by exporting goods worth 505 billion 850 million dollars, a figure that represented an increase of 6.44% compared to the previous year. According to data from the Census Bureau, Mexico captured 15.5% of U.S. imports, surpassing China and Canada. On the other hand, in 2024, it imported goods from the U.S. worth 334 billion 41 million dollars, positioning itself as the second-largest destination for U.S. exports.
Total trade between both countries reached a record 839 billion 892 million dollars in 2024, representing an annual increase of 5.3%. Sectors such as automotive, electronics, and agriculture have been crucial in maintaining this leadership, taking advantage of the benefits of the Treaty between Mexico, the United States, and Canada (USMCA).
Marcelo Ebrard, Secretary of Economy, mentioned that Donald Trump's threats to impose tariffs on Mexico could indicate an intention to renegotiate the USMCA. Trump has ordered a complete review of U.S. trade policy, the results of which must be submitted before April 1. The U.S. Trade Representative must initiate the public consultation process in preparation for the USMCA review scheduled for July 2026.
Ebrard pointed out that advancing the renegotiation of the USMCA does not represent an obstacle, as it would close uncertainty and be beneficial for markets. The evaluation of the agreement must analyze its impact on workers, farmers, ranchers, and U.S. businesses, with a report to be presented to Congress.
