As you crack open a cerveza or sip on a salty margarita in honor of Cinco de Mayo, take a moment to reflect on how important Mexico is to the health of the U.S. economy. Here are five great reasons to celebrate the partnership with our neighbor and friend to the south:
Six million U.S. jobs depend on trade with Mexico.
Over $1.4 billion in trade crosses the 2,000 mile U.S.-Mexico border each day, stimulating jobs and growth in both countries.
International trade now makes up over a quarter U.S. GDP, and Mexico buys 14.8% of all U.S. goods exports, totaling $294 billion in U.S. sales to Mexico in 2014.
U.S. inputs made up 51% of Mexico’s processing exports, making Mexico an integral part of the U.S. export platform.
Americans buy stuff from Mexico, too – among other things we enjoyed more than $2.5 billion worth of Mexican beer last year.
For these reasons and many more, it warrants taking a fresh look at Mexico and the stake that we have in its success. It’s not surprising then that CEOs of major U.S. and Mexican companies have outlined several recommendations for ways in which both countries can work together to optimize economic cooperation and increase North American competitiveness. Simply put, we can both succeed better by working together.
Mexico, along with our northern neighbor Canada, deserves to be viewed in a class distinct from other foreign countries. These North American market partners should have an elevated status in U.S. economic and foreign policy considerations. That is why it’s important that Mexico and Canada participate in the Trans-Pacific Partnership (TPP) agreement and continue to drive the bilateral relationships through the Beyond-the-Border (BTB) and Regulatory Cooperation Councils (RCC).
So on Cinco de Mayo, consider making a toast to our neighbor and the bright future ahead for two great friends and partners – the United States and Mexico.