Question

Describe the Foreign Trade of Mexico?

Answer 1

Answer:

• Protect domestic goods using tariffs and import licenses
• Tariffs ---> Increased prices of imports
• Import licenses --> Limited number if imported goods and therefore served ad quotas.
• NAFTA agreement
• Dependency on US Market
• Donald Trump's policy against Mexico and NAFTA

Answer 2

Answer:

Mexican foreign trade in figures. Mexico is highly dependent on foreign trade, which represented 78.2% of its GDP in 2019 (World Bank, latest available data). The country mainly exports vehicles and their parts, automatic data processing machines, mineral fuels, oil

and machinery. As for imports, Mexico’s main purchases include petroleum oils, other than crude, vehicle parts, and electronic integrated circuits.

Explanation:

Mexico is the United States’ second largest trading partner and second-largest export market (after Canada). In 2019, two-way trade in goods totaled $614.5 billion. Mexico’s exports rely heavily on supplying the U.S. market, but the country has also sought to diversify its export destinations.