This December, the United States and Mexico will celebrate the 200th anniversary of their bilateral relations. Over that time, both countries have been bound by deepening familial, cultural, diplomatic, and economic ties. Mexico is the United States’ second largest trading partner, and the United States is Mexico’s largest trading partner.
“Together, we have among the world’s most skilled and integrated workforces, advanced industrial centers, and a wealth of innovation hubs,” said Secretary of State Antony Blinken at the September 12 U.S.-Mexico High-Level Economic Dialogue.
“When we put our strengths together, each of us becomes more competitive, our region becomes more prosperous. And what that means in concrete terms for our people is more jobs, better jobs, better schools for our communities, more opportunities for small businesses."
“This partnership has grown stronger over the last couple of years,” said Secretary Blinken. “The United States-Mexico-Canada Agreement remains our best tool for promoting North American economic competitiveness and actually delivering results for our workers.” At the same time, our work under the High-Level Security Dialogue is helping both countries to tackle challenges like the threat of fentanyl and other narcotics trafficking, human trafficking, and violence and insecurity.
An important U.S. initiative, aimed at boosting competitiveness, is the CHIPS and Science Act, which will provide funds to develop semiconductor supply chains in North America, said Secretary Blinken:
“Major elements of the semiconductor supply chains are already well-established in Mexico with U.S.-based companies like Intel and Skyworks conducting research and development, design, assembly, and test manufacturing in parts of Mexico. The CHIPS Act is designed to incentivize investment in this type of work across the region. It will ensure that we can build these and other components that we need for the 21st century right here in North America.”
Another U.S. initiative comes through the Inflation Reduction Act, which provides among other things tax incentives for electric vehicles and battery components manufactured in North America. “It’s a way to create more jobs, combat the global climate crisis, and strengthen energy security,” said Secretary Blinken.
The United States and Mexico are committed to building inclusive, broad-based economic growth that delivers for people from both nations.