Trading Americas

We look at 2023 trade between Mexico and the USA to determine a baseline of trade between the two countries prior to Trump's policies. This includes;

• The US and Mexico are each other's largest trading partners
• Mexico's largest imports from the US include electrical equipment ($51.6 billion), heavy machinery ($45.7 billion) and fuels/oils ($45 billion).
• USA's largest imports from Mexico include vehicles ($130 billion), electrical equipment ($85.5 billion) and electrical components/machinery ($81.6 billion)

Episode Transcript

[00:00:00] This is the Trading America's podcast where we look at global trade and do our best not to make it boring So there's been a lot of crazy stuff happening. Today's February 4th 2025 and I'm going to wait a couple days until everything shakes out You know tariffs counter tariffs tariff repeals, etc before like Yeah, beforehand, looking at what these tariffs are actually going to be.

I thought I'd use this episode to just look at the baseline of trade. And this show is going to look at trade between the Americas. Today's going to focus on the U.S., Canada, and Mexico, specifically the U. S. and Mexico. And, it turns out that as of 2023, and, and these sources are all going to be in the notes of the episode.

Every source differs slightly because, some sources consider one thing an export or import. Like, for instance, every time an automobile goes across the border is, you know, the same automobile has...

Sources:

1. https://www.bbvaresearch.com/wp-content/uploads/2024/03/Int_Trade_Research_240304.pdf
2. https://www.statista.com/statistics/187701/volume-of-us-imports-of-trade-goods-from-mexico-since-1985/
3. https://www.pewresearch.org/short-reads/2024/09/27/u-s-immigrant-population-in-2023-saw-largest-increase-in-more-than-20-years/
4. https://www.pewresearch.org/short-reads/2023/08/16/11-facts-about-hispanic-origin-groups-in-the-us/ 
5. ‘What the Future Holds for U.S.-Mexico Cooperation’ – “Global Insights”, January 8, 2025 
6. https://tradingeconomics.com/united-states/imports/mexico
7. https://www.globenewswire.com/news-release/2024/12/27/3002188/28124/en/Mexico-Excavators-Import-Research-Report-2024-2033-Top-10-Suppliers-in-the-Import-Market-of-Excavators-in-Mexico-and-their-Supply-Volume.html
8. https://www.iea.org/countries/mexico/natural-gas
9. https://www.energypolicy.columbia.edu/publications/lucrative-reward-or-mounting-risk-mexicos-growing-reliance-on-us-gas/
10. https://researchfdi.com/what-you-need-know-about-the-usmca-trade-agreement/
11. https://oec.world/en/profile/bilateral-country/mex/partner/usa