President Claudia Sheinbaum presented the review of the United States-Mexico-Canada Agreement (USMCA) as progress and a successful defense of the country’s position; however, the reality shows that the trade relationship with the United States continues to be marked by the imposition of tariffs, uncertainty, and, since July 1st—the date on which the ratification of the trade agreement was expected without changes to how it was originally signed—with annual reviews.
While the Report boasts record investment figures and a constructive bilateral dialogue based on the principle of “cooperation without subordination”, in reality the relationship with the White House is going through one of its most tense moments.
In her Second Government Report , Sheinbaum described the relationship with the United States as a bond that “has had its difficulties, but we have made the decision to always seek understanding,” and affirmed that in trade matters there is permanent dialogue with the northern neighbor.
The report positions the USMCA as one of Mexico’s main assets in the face of the complex trade scenario with the United States.
The document highlights the consultation process carried out between September and November 2025, the bilateral negotiations developed during 2026, and the permanence of the treaty until 2036 with annual reviews.
The uncertainty generated by the new provisions of the USMCA, based on annual evaluations, will impact the country’s trucking and logistics sectors, given that these sectors require investments in areas such as tractor-trailers, trailers, distribution centers, intermodal terminals, and technology.
In that sense, companies in the sector could postpone the acquisition of fleets , delay the construction of logistics parks and consider expanding cross-border operations.
Other consequences would include increased operating costs, constant process updates, and less long-term planning by logistics-related companies.
According to the Second Government Report, the Ministry of Economy (SE) conducted consultations in the 32 states and in 30 productive sectors; it received 573 responses; and 83% rated the impact of the agreement as “positive” or “very positive”.
Between March and May 2026, three rounds of bilateral discussions were held prior to the start of formal negotiations, alternating between Washington, DC and Mexico City, focused on strengthening rules of origin, reducing dependence on extra-regional imports and reinforcing the security of North American supply chains .
Since last May, Mexico and the United States have held three formal rounds of negotiations.
The report on the results of Sheinbaum’s second year in government also highlighted that 85% of steel, aluminum, and automobile exports to the United States remained tariff-free .
“It represented the best preferential treatment globally in the face of the tariff and trade measures imposed and maintained by that country on Mexican exports since 2025, under Section 232 of the Trade Expansion Act of 1962 and the International Emergency Economic Powers Act on Mexican exports,” he stressed.
Although this data seems encouraging, the truth is that the 25% tariffs on vehicles and auto parts, and the 50% tariffs on steel and aluminum have been in effect since 2025 and have not been removed despite months of negotiation.
According to the Report, Mexico’s trade policy in 2025 boosted the country’s trade, which reached a value of one trillion 328 billion 903 million dollars (USD), which meant an annual growth of 6% compared to 2024, when total trade stood at one trillion 253 billion 895 million USD.
According to the figures, from January to June 2026, exports reached $389.723 billion, a 24.6% increase compared to the same period last year. Meanwhile, imports totaled $379.866 billion, a 22% increase compared to the same period in 2025.
As a result of these trade flows, the trade balance showed a surplus of nine billion 857 million dollars , compared to the surplus of 1.433 billion dollars reported in the same period of the previous year.
With these figures, Mexican trade is one of the sectors that does offer a solid argument for Sheinbaum’s government and reflects a deep integration with the United States.
In June 2026, Mexico reaffirmed its leadership as the main supplier of goods to the United States and once again positioned itself as the largest buyer of goods from its northern neighbor.
According to figures from the United States Census Bureau , total trade between Mexico and the United States was $89,167.6 million in the sixth month of the year, a growth of 22.9% compared to June 2025.
This result demonstrates Mexico’s high trade dependence on the United States, as the U.S. accounts for a significant portion of its manufactured exports and is a fundamental component of its supply chains. The U.S., in turn, has shown its willingness to use this relationship to exert pressure on trade, economic, and immigration issues .
The Second Government Report presents a favorable picture of the USMCA, although the overall picture is somewhat less favorable: Mexico managed to maintain open access to the US market, but has not yet succeeded in transforming that relationship into long-term certainty. As long as its northern neighbor continues to use tariffs as a tool of pressure, the bilateral relationship will remain more of a permanent negotiation than the stable partnership that the treaty aimed to consolidate .
Comment and follow us on LinkedIn: @Humberto Cruz Moya / @GrupoT21
