Economy & Business - August 2022

MEXICO: USMCA faces significant challenges two years on

The US-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA), turned two years old on 1 July. According to figures from the US Census Bureau, total trade between Mexico and the US went from US$612bn in 2019 to US$662bn in 2021, an increase of over 8%. During the first five months of 2022, trade between both countries reached US$317bn, an increase of 20% relative to the same period of 2021.

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