Sidley and AGON discuss the impact of Mexican and U.S. elections on this critical trade relationship.
In 2023, Mexico replaced Canada as the top U.S. trade partner. “Near-shoring” is likely to bring still more global producers to Mexico to avoid punitive U.S. duties on Chinese imports and benefit from trade preferences guaranteed under the U.S.-Mexico-Canada Agreement (USMCA). But what does the historic election on June 2 of Claudia Sheinbaum Pardo as the first woman President of Mexico mean for Mexican trade policy? Will President-elect Sheinbaum, whose Morena party will enjoy a majority in both chambers of the Mexican Congress, break from the populist economic initiatives of her predecessor and mentor, President Andrés Manuel Lopez Obrador? If so, how will Ms. Sheinbaum’s relationship with her U.S. counterpart influence developments? Much will depend on the results of the November election in the United States, which will decide whether President Joe Biden or Donald Trump will be in the White House in January 2025, and whether the winner will enjoy a majority in either house of Congress.
Sidley and AGON lawyers with direct trade and investment focused practices identify key trends for companies in North America and globally that should guide strategic planning into 2025 and beyond.
For questions or more information, please contact dcevents@sidley.com.
SPEAKERS
Michael E. Borden, Partner, Sidley
Andrew Shoyer, Partner, Sidley
Mateo Diego-Fernández Andrade, Partner, AGON
Kenneth Smith Ramos, Partner, AGON
