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CRS – Mexico’s Free Trade Agreements

Mexico’s Free Trade Agreements, M. Angeles Villarreal, Specialist in International Trade and Finance, April 25, 2017. [via FAS]

“Mexico has had a growing commitment to trade integration and liberalization through the formation of free trade agreements (FTAs) since the 1990s,and its trade policy is among the most open in the world. Mexico’s pursuit of FTAs with other countries not only provides economic benefits, but could also potentially reduce its economic dependence on the United States. The United States is, by far, Mexico’s most significant trading partner. Approximately 80% of Mexico’s exports go to the United States, and about 47% of Mexico’s imports are supplied by the United States. In an effort to increase trade with other countries, Mexico has a total of 11 free trade agreements involving 46countries. These include agreements with most countries in the Western Hemisphere, including the United States and Canada under the North American Free Trade Agreement (NAFTA), Chile, Colombia, Costa Rica, Nicaragua, Peru, Guatemala, El Salvador, and Honduras. In addition, Mexico has negotiated FTAs outside of the Western Hemisphere and entered into agreements with Israel, Japan, and the European Union…In the 115th Congress, issues of concern related to the trade and economic relationship with Mexico may involve a possible renegotiation of the North American Free Trade Agreement (NAFTA) and its effects, Mexico’s external trade policy with other countries, Mexico’s intentions of moving forward with multilateral or bilateral free trade agreements with Asia Pacific countries, economic conditions in Mexico and the labor market, and the status of Mexican migration to the United States. This report provides an overview of Mexico’s free trade agreements, its motivations for trade liberalization and entering into free trade agreements, and trade trends with the United States and other countries in the world.”

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