Will Mexico and the US Enhance Their Trade Balance?

Mexico City, May 2 (NationPress) Mexican President Claudia Sheinbaum reported a “very positive” phone conversation with her US counterpart Donald Trump, where both leaders committed to collaboratively enhance the trade balance and resolve outstanding issues.

Sheinbaum characterized her sixth dialogue with Trump as “productive,” highlighting that both administrations are focused on optimizing trade conditions for their respective nations.

“I had a very positive conversation with President Trump; we agreed that the Secretaries of Finance and the Treasury, as well as the Secretaries of Economy and Commerce, will continue collaborating over the coming days on solutions to improve our trade balance and address pending matters for the mutual benefit of our countries,” Sheinbaum stated on Thursday via the social media platform X.

As per reports from the Xinhua news agency, Mexico's Secretary of Finance Edgar Amador Zamora and US Treasury Secretary Scott Bessent will spearhead this bilateral initiative.

This recent phone conversation, marking the sixth interaction between the two leaders, occurred in the same week Trump celebrated his initial 100 days in office amidst escalating tensions regarding the mass deportation of undocumented migrants and the imposition of trade tariffs on numerous Mexican goods.

Both governments are engaged in negotiations aimed at reaching agreements that would mitigate the execution of various executive orders from Trump affecting economic sectors such as steel, aluminum, and the automotive industry.

During a news conference, Sheinbaum noted that Trump's trade strategies are focused on reducing the deficit that currently benefits Mexican exports.

“The United States government is particularly interested in decreasing the deficit — what they refer to as the deficit with Mexico — and we have been advocating for comprehensive approaches to increase purchases from the United States,” she remarked.

Mexico has successfully avoided much of Trump's trade aggression, deflecting most of the threatened tariffs on its exports.

However, the US President continues to hold Mexico accountable for the longstanding trade deficit between the two nations.

Since January, Trump has introduced a rigorous economic policy aimed at safeguarding US industries.

Tariffs, a notable feature of his administration, aim to reverse decades of trade deficits with key economic partners, including Mexico, which currently stands as the US' primary trade partner.

In January, the US recorded a trade deficit with Mexico of $13.7 billion, fueled by a 9.5 percent rise in imports from Mexico, compared to only a 5.3 percent rise in US exports to its southern neighbor on a year-over-year basis.