New T-MEC Module in DataMéxico

By Goodrich, Riquelme y Asociados

Mexico's Ministry of Economy has introduced a new section focused on the United States-Mexico-Canada Agreement (USMCA, or T-MEC in Spanish) within its DataMéxico platform.

This module provides statistical information for strategic analysis among the three partner countries of the agreement. DataMéxico, designed for data integration and visualization, now features a section that offers a comprehensive view of trade under the T-MEC, one of the most significant trade agreements globally.

This development comes at a favorable time for Mexico, which is experiencing a rise in nearshoring, the relocation of production processes closer to final consumers. This trend is closely linked to the advantages the T-MEC provides for attracting investments and strengthening regional supply chains. Nearshoring in Mexico is gaining momentum due to its proximity to the U.S. and its ability to offer competitive costs.

The T-MEC provides a legal and commercial framework that promotes production and sourcing within the region by removing trade barriers and simplifying customs processes. These measures reduce costs and facilitate the exchange of goods and services, which enhances regional trade competitiveness in global markets.

The agreement not only fosters a fairer and more competitive trade environment but also supports the creation and strengthening of value chains within North America, generating jobs and promoting economic development in Mexico, the U.S., and Canada.