Beyond the US-Mexico trade corridor

As nearshoring reshapes global supply chains, Mexico has emerged as the US’s top trading partner – fuelled by deep manufacturing integration and geopolitical shifts. But with new tariffs looming and a pivotal USMCA review ahead, businesses on both sides of the border must prepare for a future defined by uncertainty and strategic realignment to boost resilience.

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During the past 15 years, trade in goods between the US and Mexico has more than doubled, strengthening Mexico’s position as one of the US’s leading trading partners. The US now conducts more trade with Mexico than ever before, while running a significant trade deficit.

Vanessa Rubio-Márquez, associate fellow in the US and the Americas programme at Chatham House, notes that US investment represents 45% of total investment in Mexico and more than 80% of Mexican exports go to the US.