Dr. Jorge I. Dominguez has a background as a Harvard University professor and chaired the Harvard Academy for International and Area Studies. Having served as the Antonio Madero Professor for the Study of Mexico, Dr. Jorge I. Dominguez has a strong knowledge of the US-Mexico economic and trade relationship.
Since the end of 2022, Mexico has solidified its trade partnership with the United States, overtaking traditional leader Canada in the number one position. In July 2023, the total trade between the two countries was $65.3 billion, which put the year-to-date total at $462 billion. This is $12 billion above Canada and well higher than China’s $322.3 billion. Dating back to the 1970s, Canada held status as America’s top trading partner until China took top ranking in 2015. In 2019, Mexico usurped the two countries for the first time. Canada regained the top ranking in 2021 and 2022. Behind Mexico’s trade ascendance is the nearshoring of manufacturing from China, due to a host of bilateral trade and political frictions between the United States and China. Numerous manufacturing plants have opened in urban areas such as Monterrey and Ramos Arizpe, with partnership agreements signed by US companies and initial production and shipments now beginning to flow. Much of the new trade is coming through Laredo, Texas, which holds top status among 450 “international gateways” worldwide. Accompanying this cross-border manufacturing growth is significant foreign direct investments, which totaled $10 billion in the first eight months of 2023 alone (compared with $13.7 billion total in 2022).
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AuthorJorge Dominguez - Doctor of Political Science. Archives
November 2021
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