U.S. President Joe Biden concludes a four-day diplomatic push with China and different Pacific nations by holding a remaining assembly on Friday with world leaders and a go to with Mexican President Andrés Manuel López Obrador.
Biden, who met with President Xi Jinping on Wednesday and used Thursday to spotlight robust financial ties between the U.S. and the opposite Pacific nations, may have one remaining giant gathering of leaders on Friday the place he’ll formally switch the chair of the Asia Pacific Financial Cooperation discussion board to Peru President Dina Boluarte.
Forward of their bilateral assembly, Biden and Lopez Obrador expressed curiosity in tackling the problems of migration and fentanyl trafficking.
“Mexico and the US stand collectively,” Biden stated. “We see it in our safety cooperation, we’re working side-by-side to fight arms trafficking, to sort out organized crime and to deal with the opioid epidemic, together with fentanyl.”
Lopez Obrador described the U.S.- Mexico relationship as respectful and cooperative, and he praised Biden for his immigration insurance policies, calling him an “extraordinary president” and “a person with conviction.”
The bilateral assembly comes as the 2 international locations are at odds over a number of vital commerce points, together with Mexico’s efforts to section out use of genetically modified corn – a transfer that hurts U.S. farmers – and efforts to dam U.S. vitality investments into Mexico.
The worsening of commerce relations between Washington and Mexico Metropolis comes at the same time as their financial integration grows.
Mexico overtook Canada and China to grow to be the most important U.S. items buying and selling accomplice within the first half of 2023, reaching complete commerce of $396.6 billion as Mexico’s automotive manufacturing grows and different U.S. corporations shift provide chains from China nearer to residence.
In 2022, Mexico had a $130.5 billion items commerce surplus with the US. It’s on monitor to greater than double from the $69 billion surplus in 2017, when former President Donald Trump launched a renegotiation of the NAFTA commerce settlement after threatening to give up the pact, claiming it was draining U.S. manufacturing jobs.
(Reporting By Jeff Mason and Jarrett Renshaw; Modifying by Scott Malone, Stephen Coates and Cynthia Osterman)