Canada’s Prime Minister Mark Carney paid a visit to Mexico where he consulted with Mexican President Claudia Sheinbaum.
As reported by the New York Times, “The leaders of Canada and Mexico, the United States’ two largest trading partners, met in Mexico City on Thursday [September 18th] without their U.S. counterpart — but the trade chaos brought by President Trump still filled the room.”
“Prime Minister Mark Carney of Canada and President Claudia Sheinbaum of Mexico focused the meeting at the National Palace on trade, security cooperation and investments in areas like mining, agriculture and natural gas.”
“But looming over everything was the desire of the two leaders to preserve their free trade partnership with the United States, which has so far limited the effect of President Trump’s tariffs on their economies. This week, Mexico and the United States opened public consultations on the trade pact, the U.S.-Mexico-Canada Free Trade Agreement, or U.S.M.C.A., the first step in a review of the agreement. Canada is expected to follow shortly.”
On the 19th of September, Prime Minister Carney tweeted this: “Here in Mexico City, President@ClaudiaShein and I met with business leaders from across Canada and Mexico. We’re elevating our partnership and delivering the certainty that businesses need to invest — and building opportunities for workers in both our nations.”
Just how much trade do Canada and Mexico currently have with each other?
As it turns out, not that much, in the big scheme of things. But it’s something.
As the New York Times explains, “Though they are bound together in a trade deal with the United States, the two countries’ own economic and cultural relations have always been distant.”
“Mexico accounted for 1 percent of Canadian exports last year, and Canada represents around 3 percent of Mexico’s export market. Separated by the United States, both countries long prioritized trade with their giant neighbor rather than building ties with each other across, over or around it. Bilateral meetings between them have been rare.”
But hey, Mexico’s Grupo Bimbo is in Canada. Grupo Bimbo is the world’s biggest bakery company, the biggest bakery company in the U.S. and the biggest bakery company in Canada. See my recent article Grupo Bimbo in Canada.