Mexico to boost U.S. imports to narrow trade gap and push bilateral deal
President Claudia Sheinbaum announced plans to increase purchases of American goods to cut Mexico's trade deficit with the United States and move a pending trade pact forward.
At a daily press briefing, President Claudia Sheinbaum said her administration is working to raise the volume of U.S. goods bought in Mexico as a way to shrink the bilateral trade deficit and advance a pending trade agreement with the Trump administration. She added that curbing purchases from third-party nations is also part of the plan. The comments came after a recent meeting with President Donald Trump, during which Trump expressed continued dissatisfaction with the trade gap.
Data from Mexico's central bank show the country's surplus with the United States has jumped 51% this year, topping $280 billion. Officials in both capitals view a deal as advantageous before the November 3 midterms, when the U.S. political landscape could shift. Mexico regards the agreement as essential for market confidence amid a weak economy and falling credit ratings. The negotiations are also influenced by the stalled U.S.-Canada talks, prompting Mexico to prioritize a U.S. pact for tariff relief, especially on automobiles.
Why it matters
Increasing U.S. imports could narrow the trade deficit and shape a key bilateral agreement before US midterm elections.
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