How will the arrival of Joe Biden to the White House affect Mexico? It could do so in a very direct way, taking into account the deep neighborhood ties and, above all, commercial ties between the two countries.
The Mexican peso reaches its highest level in ten months
For now, the Mexican peso celebrated the inauguration of the new president on Wednesday, reaching its highest level against the dollar in the last ten months. Analysts believe that the A stimulus plan proposed by Biden to relaunch the US economy, worth 1.9 trillion dollars, will have a positive impact on Mexican GDP.
López Obrador points out three axes in the relationship: pandemic, reactivation and migration
President Andrés Manuel López Obrador says that he will get along with Biden and is clear about which three issues should cement the bilateral relationship.
“I’m calm, optimistic, because the relationship will be very good -he pointed-. Those three topics are very important, pandemic, economic reactivation and migration “.
López Obrador stressed that 38 million Mexicans live and work in the United States. In that sense, he asked the new Administration to regularize all the people who have been contributing to the development of the country for years, a process that Biden has already launched.
Two large trading partners with exchanges worth $ 614 billion
The United States is Mexico’s main trading partner, while Mexico has fluctuated in recent months as the first and second partner of the United States. The two countries, joined together with Canada by a free trade agreement, reached a volume of exchanges of 614,000 million dollars in 2019.
Wait and see, that seems to be the position of many Mexicans before the new US president.
“Sounds good to me, let’s hope he performs better than the one that just came out”, says a man.
“Everything is fine, I think. What does (López Obrador) say that he is a friend of him, that he will be the same. Well, who knows?”says another, more cautious.
Biden revokes return to Mexico of asylum seekers
With Donald Trump, bilateral relations went through ups and downs. Mexico agreed to militarize the border with Guatemala to stop the arrival of Central American migrants.
Another sensitive issue was the United States’ decision to return all asylum seekers to Mexico while their papers were being processed. Biden has announced the immediate revocation of that measure, clarifying, however, that due to the pandemic, the transit restrictions on the common border will remain in force.