After concluding what can only be called an epic World Cup hosted by the U.S., Mexico and Canada, the U.S. and Mexico resume negotiations this week on the U.S.-Mexico-Canada Agreement.
I thought it was a good sign that President Trump, President Sheinbaum and Prime Minister Carney made a joint appearance at the final in the Meadowlands. The United States is stronger when we collaborate with our friends north and south of the border. Occasions like the World Cup remind us that this collaboration makes us not just stronger commercially, but happier. All the people of our three nations should take pride and smile in the aftermath of the World Cup.
(I watched the final game at a packed rooftop bar in Mexico City. Great fans. Spain deserved to win.)
Canada and Mexico wanted to extend the USMCA for 16 years, while the U.S. punted (American football pun intended) — reviews now move to an annual cycle.
With predictability key for long-term investment, it’s fair to say the business community in all three countries shares a consensus that a more permanent foundation for trilateral trade is optimal. We now trade roughly $2 trillion a year, building products and services together to compete against China and the rest of the world.
And when you look at what’s happening in Arizona — the largest FDI in our nation’s 250-year history, $265 billion+ at TSMC — plus the massive investments from SpaceX and Saronic, and new natural gas facilities in South Texas, spanning key sectors like semiconductors, energy, space, defense/shipbuilding and logistics — expect much deeper supply chain integration across North America.
In the age of AI and advanced manufacturing, having strong allies and trading partners is a prerequisite for U.S. prosperity & securty. A unified North America is the obvious foundation.
I’ll write more about the USMCA talks later this week from the ground in CDMX, but what encourages me today is that integration on non-commercial fronts is accelerating.
I attended an international [nameless], Pacheco Ventures and The Canvas event Saturday night at Dante Brasa & Fuego in Polanco, with rising key opinion leaders & business, civic and cultural leaders. The guests from Arizona, NYC, Texas & Mexico represented many walks of life, but all agreed that a deeper U.S.-Mexico relationship enriches us on a human level.
The entire evening was inspiring and enjoyable. The personal ties are inportant and I believe enduring.
Finally, Happy Birthday wishes to a James Bond style diplomat, entrepreneur & economic development official, Singapore’s Mike Ang. Over lunch in Roma, he made the point that stuck with me: CDMX has shades of Dubai as an international hub. Mike was kind enough to involve us in his birthday activities.
Salud!
Editor’s Note: The above commentary was penned by Glenn Hamer, a leading advocate in North America for free trade. The commentary first appeared on his social media pages.
