Mexico’s new President vows commitment to USMCA

by | Jun 5, 2024 | 5 Ag Stories, News

Mexico has a new president, and that could have implications for U.S. farm trade and the number one foreign market for exports. On Monday Claudia Sheinbaum was elected president of Mexico, she is the first woman president in Mexico’s history.

Claudia Sheinbaum is the newly elected President of Mexico and although the country has a new leader American Farm Bureau senior director of government affairs Dave Salmonsen says she is likely to continue the status quo in ag trade.

That strong trade relationship will rely on many factors, including trade issues that U.S. officials have been working to overcome.

Mexico is now the top trade partner for United States agriculture. Almost three billion dollars a year on average, or a quarter of U.S. corn exports, went to Mexico in the last ten years and almost five billion in 2021.

Canada is the United States second biggest ag export market and China is now number three. Salmonsen says the United States-Mexico-Canada Agreement or USMCA is up for review in 2026 with several ag trade issues still needing to be addressed. Namely the GM corn dispute with Mexico and dairy trade issues with Canada.