Trade between Mexico and the United States totaled $449.8 billion dollars between January and July of this year, thus reaching a new historical record in bilateral trade.
The figure puts Mexico as the second largest trading partner of the United States, according to data from the Census Bureau.
The data represented an increase of 19.8 percent compared to the same period last year when a total trade of $375.5 billion dollars was reported. In that year, Mexico was positioned as the first commercial partner of the United States, according to figures from the US government.
“We start with good news. Mexico remained the second most important trading partner of the US between January and July 2022″, highlighted the Secretary of the Economy, Tatiana Clouthier, in a tweet.
In the month of July alone, bilateral trade totaled $65.1 billion dollars, this amount being the largest since the beginning of the statistical series, with a growth of 17.4 percent compared to July of the previous year. In July 2021, total trade stood at $55.5 billion.
And speaking of the relationship between Mexico and the United States, this week it was announced that the consultation process between Mexico, the United States, and Canada may last beyond the formal 75 days if there is progress and be extended as agreed by the parties, explained Secretary Clouthier.
“Sometimes we make sense of things or magnify them with a lens where we don’t put things in the perspective that should be put and say, let’s wait and see what happens,” he said about the processes that have been raised under the protection of Chapter 31 of the T-MEC on Dispute Settlement to resolve disagreements between countries, which have been four in the last two years.
