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Mexico’s Trade Surplus with US Surpasses Those of Germany and Japan

By: Elena Toledo - @NenaToledo - Jul 7, 2017, 3:18 pm
México
In the first five months of 2017, Mexico’s surplus with the US surpassed Japan and Germany. (Flickr)

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According to reports from the United States Census Bureau, Mexico overtook Japan and Germany with regard to its trade surplus with the United States between January and May of 2017.

In the first five months of this year, Mexico‘s surplus was USD $30.3 billion, while  Japan stood at USD $ 28.4 billion and Germany registered USD $25 billion.

The total sum of the surpluses of Mexico, Japan, and Germany is equivalent to more than 60% of China’s surplus, which clocked in at USD $ 138.1 billion over the same period of time. China ranks first in trade surplus with the United States.

 

 

“Mexico’s positive balance represented a 14.2% increase over the same period in 2016, when the surplus was USD $ 26.6 billion, while Germany decreased its surplus with the United States by 6.7% in the same period” from US $ 68.9 billion to USD $ 64.9 billion. The United States recorded the largest trade deficit with China at USD $ 347 billion, followed by Japan (USD $68.9 billion, Germany USD $64.9 billion, and Mexico at USD $63.2 billion.

As for US trade with Mexico, that country has a trade deficit of 12% with Mexico as a percentage of its total trade volume as established by the US Census Bureau. This percentage has been rated as “moderate” by Mexico’s Economy Secretariat as it ranks 11th worldwide with respect to the largest negative balances in the United States.

In 2016, the United States had its main trade deficit as a percentage of its total trade volume with Ireland (65.3%), followed by China (60%), Italy (45.9%), Germany (39.7%), India (35.9%) and Japan (35.3%).

According to its Secretary of Economy, Mexico also spends a greater percentage of its GDP on buying imports from the United States than any other country in the world.

Donald Trump spoke forcefully against NAFTA on the campaign trail, but thus far appears poised to modify some elements of the landmark trade agreement, rather than withdraw from it in its entirety.

Source: El Economista

Elena Toledo Elena Toledo

Educator by trade, social-media apprentice, activist for a democratic Honduras, and free thinker. Follow her on Twitter @NenaToledo.

Trump Doubles Down on Plan to Make Mexico Pay for Border Wall during G20 Meeting with Peña Nieto

By: Elena Toledo - @NenaToledo - Jul 7, 2017, 2:35 pm
donald-trump-pena-nieto-g20 (1)

EspañolOne of the most anticipated meetings at the G20 summit in Hamburg, Germany — United States President Donald Trump with Mexico President Enrique Peña Nieto — took place this Friday, July 7. The meeting was actually scheduled prior to the official summit, which unites the 20 most powerful economies in the world. Trump discussed his plan to build a border wall during the meeting, as well as how to address organized crime, immigration and renegotiating the North American Free Trade Agreement. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1459522593195-0'); });     Peña Nieto said he is open to having a fluid dialogue "that allows us to advance in the renegotiation of what we want NAFTA to be, to keep working on matters of cooperation, especially for the sake of the national security of both countries, specifically on the borders." The Mexican President also said that both administrations are committed to "assuming joint responsibility in combating organized crime." Read More: Mexico: Manuel Obrador Holds Slight Lead in 2018 Presidential Elections Read More: New Study Shows Just How Out of Control Violence in Mexico has Become Donald Trump said: "It is great to be with my friend, the President of México. We are going to negotiate NAFTA and some other things. We will see what happens, but I believe that we are making progress, so keep an eye on it. " Nevertheless, the polemic topic of the border wall did come up while taking questions from the press. When a reporter asked whether the US still expects Mexico to pay for the wall, Trump said, "Absolutely." Sources: El Universal, Forbes México.

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