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After securing the NAFTA treaty that integrated the Mexican and American economies, [[Foreign policy of the Bill Clinton administration#Mexico|President Bill Clinton]] faced yet another foreign crisis in early 1995. The [[Mexican peso]] began to fall sharply and threatened the collapse of the [[Economy of Mexico|Mexican economy]]. Clinton feared that a collapse would have a negative impact on the United States because of their close economic ties. He proposed a plan to address the financial crisis in Mexico, but many in Congress, fearing that constituents would not favor aid money to Mexico, rejected the plan. In response, Clinton used executive authority to create a $20 billion loan package for Mexico to restore international confidence in the Mexican economy. The loan went through and Mexico completed its loan payments to the United States in January 1997, three years ahead of schedule. However, issues such as [[drug smuggling]] and immigration continued to strain relations.<ref>Russell Dean Covey, "Adventures in the Zone of Twilight: Separation of Powers and National Economic Security in the Mexican Bailout." ''Yale Law Journal'' 105 (1995): 1311-1345. [https://readingroom.law.gsu.edu/cgi/viewcontent.cgi?article=1123&context=faculty_pub Online]</ref>
Since 1994, the United States and Mexico have tightened their economic ties. The US is Mexico's largest trading partner, accounting for close to half of all exports in 2008 and more than half of all imports in 2009. For the US, Mexico is the largest trading partner as of 2023, surpassing both Canada and China. {{As of|2010|6|lc=on}}.<ref name="June 2010">{{cite web|url=https://www.census.gov/foreign-trade/top/dst/2010/07/balance.html|title=Jun 2010 – Top Ten U.S. Trading Partners}}</ref> In 2017, two-way trade between both nations amounted to US$521.5 billion.<ref>{{cite web|url=http://www.economia-snci.gob.mx/sic_php/pages/estadisticas/|title=Secretaría de Economía - Información Estadística y Arancelaria|website=www.economia-snci.gob.mx|access-date=November 28, 2018|archive-url=https://web.archive.org/web/20160425092817/http://www.economia.gob.mx/comunidad-negocios/comercio-exterior/informacion-estadistica-y-arancelaria|archive-date=April 25, 2016|url-status=dead}}</ref> The trade in goods and services totaled $677 billion in 2019. Exports to Mexico were $289 billion; imports were $388 billion.<ref>See [https://ustr.gov/countries-regions/americas/mexico Office of the US Trade Representative, "Mexico" (2022)]</ref>▼
===Illegal immigration from Mexico===
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In 2023, Republican members of the US Congress threatened to invade Mexico to stop cartels,<ref>{{Cite news |last=Knox |first=Olivier |date=2023-08-24 |title=Analysis {{!}} Invade Mexico and five other takeaways from the GOP debate |language=en-US |newspaper=Washington Post |url=https://www.washingtonpost.com/politics/2023/08/24/invade-mexico-six-other-takeaways-gop-debate/ |access-date=2023-08-31 |issn=0190-8286}}</ref><ref>{{Cite web |last=Ward |first=Alexander |date=2023-04-10 |title=GOP embraces a new foreign policy: Bomb Mexico to stop fentanyl |url=https://www.politico.com/news/2023/04/10/gop-bomb-mexico-fentanyl-00091132 |access-date=2023-08-31 |website=POLITICO |language=en}}</ref> but was noted by others as attempted resource extraction.<ref>{{Cite news |last=Heer |first=Jeet |date=2023-04-04 |title=What's Behind the New Calls to Invade Mexico |language=en-US |url=https://www.thenation.com/article/politics/invade-mexico-amlo-cartels/ |access-date=2023-08-31 |issn=0027-8378}}</ref> Mexican President Obrador has stated that "We are not going to permit any foreign government to intervene in our territory, much less that a government's armed forces..."<ref>{{Cite news |last=O'Boyle |first=Brendan |date=2023-03-09 |title=Mexico president rejects 'irresponsible' calls for US military action against cartels |language=en |work=Reuters |url=https://www.reuters.com/world/americas/mexico-president-rejects-us-lawmakers-calls-military-intervention-against-2023-03-09/ |access-date=2023-09-04}}</ref>
== Economic ties ==
▲Since 1994, the United States and Mexico have tightened their economic ties. The US is Mexico's largest trading partner
Oil and natural gas in particular are traded between the two countries, as well as complex industrial goods such as machinery, electronics, electrical equipment and automobiles. With the conclusion of NAFTA, Mexico has become an important investment location for US companies, with investments amounting to over $130 billion (2022).<ref>{{Cite web |title=Mexico |url=https://ustr.gov/countries-regions/americas/mexico |access-date=2024-07-13 |website=United States Trade Representative |language=en}}</ref> Many car manufacturers have production facilities in Mexico for the American market, including major US brands such as [[General Motors]] and [[Ford Motor Company|Ford]], where they benefit from lower production costs.<ref>{{Cite web |title=The Growing Role of Mexico in the North American Automotive Industry - Trends, Drivers and Forecasts |url=https://www.cargroup.org/publication/the-growing-role-of-mexico-in-the-north-american-automotive-industry-trends-drivers-and-forecasts/ |access-date=2024-07-13 |website=Center for Automotive Research |language=en-US}}</ref> US investments have changed the economic geography in Mexico, with many border cities such as [[Ciudad Juárez]] or [[Tijuana]] specializing in trade with the neighbouring country. Nearly 80 percent of Mexican exports are destined for the U.S.<ref>{{Cite web |title=Mexico Trade {{!}} WITS Data |url=https://wits.worldbank.org/CountrySnapshot/en/MEX |access-date=2024-07-13 |website=wits.worldbank.org}}</ref> Mexico has also become an important market for U.S. companies. For example, Mexico is one of the most important markets for [[Coca-Cola]] products, which is considered a reason for widespread obesity among many Mexicans.<ref>{{Cite web |date=2016-02-10 |title=Mexico’s Coca-Cola Problem |url=https://www.americamagazine.org/issue/mexicos-coke-problem |access-date=2024-07-13 |website=America Magazine |language=en}}</ref>
Tourism is also an important economic factor in Mexico and Americans make up the largest group of foreign tourists in the country. Between January and April 2024, over 5 million tourists from the US visited the country.<ref>{{Cite web |title=Datatur3 - Visitantes por Nacionalidad |url=https://www.datatur.sectur.gob.mx/SitePages/Visitantes%20por%20Nacionalidad.aspx |access-date=2024-07-13 |website=www.datatur.sectur.gob.mx}}</ref>
Mexicans living abroad remitted over $27 billion to their home country in 2017. The majority of these [[Remittances from the United States|remittances]] come from the United States. Remittances are therefore an important economic factor, accounting for 2.6 % of economic output.<ref>{{Cite web |title=Mexico - Migrant remittance 2017 {{!}} countryeconomy.com |url=https://countryeconomy.com/demography/migration/remittance/mexico |access-date=2024-07-13 |website=countryeconomy.com |language=en}}</ref>
The open borders have led to an increase in drug smuggling since the 1990s. According to estimates, [[Mexican cartels]] earn between 19 and 29 billion US dollars annually from drug sales in the USA. <ref>{{Cite web |last=Research |first=CNN Editorial |date=2013-09-02 |title=Mexico Drug War Fast Facts |url=https://www.cnn.com/2013/09/02/world/americas/mexico-drug-war-fast-facts/index.html |access-date=2024-07-13 |website=CNN |language=en}}</ref>The drug trade has made many cartels so rich that they have gained control over many regions of Mexico and are challenging the state's monopoly on the use of force.<ref>{{Cite web |date=2022-08-16 |title=Week of widespread drug violence shows power of Jalisco cartel's "vast empire" in Mexico - CBS News |url=https://www.cbsnews.com/news/drug-violence-jalisco-cartel-vast-empire-mexico/ |access-date=2024-07-13 |website=www.cbsnews.com |language=en-US}}</ref>
{| class="wikitable"
|+US-Mexico goods trade in millions of U.S. dollars (1990−2023)<ref name=":1" />
!
!1990
!2000
!2010
!2015
!2020
!2021
!2022
!2023
|-
|US exports to Mexico
|28.3
|111.3
|163.7
|236.5
|212.5
|277.2
|324.2
|322.7
|-
|US imports from Mexico
|30.2
|135.9
|230.0
|296.4
|323.5
|382.6
|452.0
|475.2
|-
|Trade balance
|−1.9
|−24.6
|−66.3
|−60.0
|−111.1
|−105.4
|−127.8
|−152.5
|}
== Migration ==
[[File:Americans with Mexican Ancestry by state.svg|thumb|[[Mexican Americans]] by state (2010)]]
With the passage of the [[Immigration Act of 1924]], which restricted immigration from Southern and Eastern Europe, immigration from Mexico began to increase.<ref>{{Cite web |title=Timeline: U.S.-Mexico Relations |url=https://www.cfr.org/timeline/us-mexico-relations |access-date=2024-07-13 |website=www.cfr.org |language=en}}</ref> In the 1940s, the [[Bracero Program]] became the largest recruitment program of all time and resulted in the signing of 5 million labor contracts over the next 20 years. In 2021, there were over 37 million [[Mexican Americans]] living in the U.S., nearly 10 million of whom were born in Mexico.<ref>{{Cite web |title=Explore Census Data |url=https://data.census.gov/table/ACSDT1Y2021.B03001?q=B03001:+HISPANIC+OR+LATINO+ORIGIN+BY+SPECIFIC+ORIGIN&hidePreview=true |access-date=2024-07-13 |website=data.census.gov}}</ref> Most Mexican Americans live in the [[southwestern U.S.]] (over half in the states of [[California]] and [[Texas]]). The movement for the emancipation of Mexican immigrant workers began in the 1950s under [[Cesar Chavez|César Chávez]] and the civil rights movement of Mexican Americans known as the [[Chicano Movement]]. A vibrant Mexican-American culture and cuisine has established itself in the USA.
Also, over half of all [[Illegal immigration to the United States|illegal immigrants in the U.S.]] were from Mexico in 2017, making securing the border with Mexico a contentious political issue in the United States.<ref>{{Cite web |last=Cohn |first=Jens Manuel Krogstad, Jeffrey S. Passel and D’Vera |date=2019-06-12 |title=5 facts about illegal immigration in the U.S. |url=https://www.pewresearch.org/short-reads/2019/06/12/5-facts-about-illegal-immigration-in-the-u-s/ |access-date=2024-07-13 |website=Pew Research Center |language=en-US}}</ref> However, starting in the 2010s, legal and illegal migration from Mexico decreased significantly and most illegal border crossings in the early 2020s were from migrants from [[Central America]]. Between 2007 and 2019, the number of Mexican migrants in the US actually fell.<ref>{{Cite web |last=Gonzalez-Barrera |first=Ana |date=2021-07-09 |title=Before COVID-19, more Mexicans came to the U.S. than left for Mexico for the first time in years |url=https://www.pewresearch.org/short-reads/2021/07/09/before-covid-19-more-mexicans-came-to-the-u-s-than-left-for-mexico-for-the-first-time-in-years/ |access-date=2024-07-13 |website=Pew Research Center |language=en-US}}</ref>
An increasing number of immigrants from the US are living in Mexico. Between 1.2 and 1.5 million Americans live in Mexico (2019). These include repatriated Mexican Americans, but also retirees who have chosen the country as their retirement home.<ref>{{Cite web |last=Fry |first=Wendy |date=2019-06-17 |title=Americans make up Mexico’s largest demographic of immigrants |url=https://www.sandiegouniontribune.com/news/border-baja-california/story/2019-06-15/americans-make-up-mexicos-largest-demographic-of-immigrants/ |access-date=2024-07-13 |website=San Diego Union-Tribune |language=en-US}}</ref><ref>{{Cite web |last=Rousmaniere |first=Peter |date=2019-11-07 |title=How many Americans live in Mexico? |url=https://www.workingimmigrants.com/2019/11/how-many-americans-live-in-mexico/ |access-date=2024-07-13 |website=Working Immigrants |language=en-US}}</ref>
==Gallery==
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==See also==
{{portal|Mexico|United States|Politics}}
*
▲* [[American immigration to Mexico]]
* [[Emigration from Mexico]]
* [[Treaty of Guadalupe Hidalgo]], of 1848
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