US and Mexico Team Up: In a groundbreaking move, the United States and Mexico have forged a partnership aimed at bolstering investment security. This collaboration goes beyond mere economic ties, addressing shared concerns and navigating challenges related to security. While the initiative is not solely centered around China, it marks a nuanced step towards securing a robust economic future. The U.S. Treasury Secretary, Janet Yellen, and the Mexican Finance Ministry signed an agreement to exchange information and best practices, signaling a commitment to creating a resilient screening regime for handling increasing investments in Mexico.
The Biden administration is actively promoting Mexico as a premier investment destination for U.S. supply chains. The objective is to ensure that Mexico develops a robust screening mechanism capable of managing the growing influx of factory investments. This effort aligns with the U.S. approach, where the Committee on Foreign Investment in the United States (CFIUS) plays a pivotal role in reviewing purchases of American companies by foreign entities.
The memorandum of intent signed between the Treasury and the Mexican Finance Ministry facilitates increased engagement, sharing technical insights, and best practices. The aim is to establish a screening body in Mexico akin to CFIUS, fostering an open investment climate while diligently monitoring and addressing security risks.
Also Read: USMCA Labor Rules Challenge: U.S. and Mexico Lock Horns Over Grupo Mexicos Worker Dispute
While Yellen’s visit primarily focused on economic ties, it also aimed to enhance cooperation in curbing the flow of the opioid fentanyl from Mexico to the United States. The illicit trade often involves precursor chemicals from China. The Mexican Finance Minister, Rogelio Ramirez de la O, urged cooperation in addressing the flow of weapons from the U.S. into the hands of Mexican criminal groups, highlighting the need for collaborative efforts to combat transnational challenges.
Mexico’s surge in manufacturing investments, driven by the near-shoring trend, has raised concerns about potential exploitation by China or other nations seeking to circumvent U.S. export control restrictions. With a significant influx of foreign direct investment, including high-profile projects like Tesla’s electric vehicle factory, the need for a comprehensive screening mechanism becomes paramount.
Yellen clarified that the investment screening talks with Mexico were not exclusively focused on China. She emphasized that while China was welcome to make investments in Mexico, adherence to national security screenings and compliance with new tax credit content rules were imperative.
The discussions also delved into the possibility of integrating cross-border payment systems more deeply. Yellen and Mexican Finance Ministry officials explored avenues to enhance trade and investment benefits through streamlined payment processes. This initiative is viewed as a pragmatic step, not driven by concerns about China, but rather as a collaborative effort to address issues related to digital payments and reduce remittance costs.
In essence, this strategic partnership between the U.S. and Mexico marks a significant development in economic collaboration, demonstrating a nuanced approach to security concerns and setting the stage for a mutually beneficial future.
Our Reader’s Queries
Has USA ever beat Mexico?
Since their first match in 1934, Mexico and the U.S. have faced off 76 times. Mexico currently leads the overall series with a record of 36 wins, 23 losses, and 17 draws. However, the U.S. has held the upper hand since 2000, boasting a record of 18 wins, 9 losses, and 8 draws in the 21st century.
What happened in USA vs Mexico game?
The USMNT dominated their southern neighbors in a 3-0 victory, securing their place in the tournament final for the second year in a row. The match was filled with unforgettable moments and significant achievements.
What time does USA vs Mexico play today?
The highly anticipated USA-Mexico kickoff is scheduled for 10 p.m. ET and will be aired live on Paramount+ and Univision. Fans can also stay updated on the match through social media platforms such as Facebook, Twitter @USMNT, Instagram @USMNT, and the official U.S. Soccer App. Meanwhile, Canada and Panama will battle it out in the other semifinal in Las Vegas.
Where can I watch USA vs Mexico June 15?
If you’re looking to catch the upcoming match between the United States and Mexico, here’s what you need to know. The game is set to take place on Thursday, June 15 at 10 p.m. ET at the Allegiant Stadium in Las Vegas, Nevada. You can catch the action live by streaming it on Paramount+. As for the odds, the United States is currently sitting at +130, with the draw at +205 and Mexico at +220 (according to Caesars Sportsbook). So, get ready to cheer on your favorite team and enjoy the game!