Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum have pledged to deepen economic cooperation as ongoing trade threats from U.S. President Donald Trump unsettle the region.
The commitment was made during Carney’s first official visit to Mexico, where both leaders emphasized the importance of closer bilateral ties at a time of heightened uncertainty. The two nations, along with the United States, are preparing to co-host the FIFA 2026 World Cup next summer, an event expected to bring major economic opportunities.
Focus on Stability Beyond U.S. Tariff Pressures
At a press conference following their meeting at Mexico City’s National Palace, Carney highlighted the strength of trilateral cooperation:
“North America is the economic envy of the world and the most competitive economic region. We are stronger together.”
The talks centered on the United States-Mexico-Canada Agreement (USMCA), which is due for review in 2026. With more than 75% of Canada’s exports and 80% of Mexico’s exports directed to the U.S., both nations are increasingly cautious of Washington’s shifting trade policies.
Sheinbaum, Mexico’s first female president, stressed that the partnership aims to “bring a new era of further strengthening economic ties” and noted plans to expand bilateral trade through maritime routes, bypassing the United States where possible.
From Tensions to Partnership
Relations between Mexico and Canada have not always been smooth. Last year, several Canadian premiers suggested excluding Mexico from trade talks, a stance that angered Mexican officials. However, ties have since improved, with Sheinbaum attending the G7 Summit in Alberta earlier this year at Carney’s invitation.
Despite past disagreements, trade between the two nations is significant:
- Mexico is Canada’s third-largest trading partner, after the U.S. and China.
- Canada ranks as Mexico’s fifth-largest trading partner, reflecting growing interdependence.
A Common Front Against Uncertainty
Political analysts note that both nations now share a “common threat” from the U.S. under Trump’s administration. As Nelson Wiseman, professor emeritus at the University of Toronto, explained:
“Trump looms over this visit. Mexico and Canada now share a common threat from the U.S.”
Carney expressed confidence in “much greater amounts of trade and investment” between the two countries, while Sheinbaum confirmed a joint strategy to secure long-term economic resilience.
