Thought for food in U.S.-Mexico agricultural trade
According to www.neighborsforgood.com., the bounty of fresh fruits and vegetables at a local grocery store, in large part due to trade with Mexico. Fresh vegetable imports are seasonal, with about two-thirds of the volume arriving when U.S. production ebbs between December and May. Consumers benefit during the cold months. U.S. agricultural imports deliver lower prices and expanded choices year-round. We can’t talk about agricultural trade without considering the NAFTA, which decreased tariffs and regulations, in order to boost U.S.-Mexico commerce. Between 1993 and 2015, Mexican agricultural exports to the U.S. climbed from US$2.7 billion to US$21 billion. Adjusted for inflation, that’s more than a 400% increase, and makes Mexico the second-largest supplier of U.S. agricultural imports. On the other hand, Mexico ranks as the third-largest agricultural export market for the United States, with sales of food and farm products, totaling US$19.5 billion in fiscal year 2014, and accounting for nearly 13% of all U.S. agricultural exports. Mexican consumers spend more than countries such as Japan, South Korea, and Germany on U.S. agricultural and related products. In the overall scheme of trade, agricultural products represent 7% of total imports and exports between Mexico and the U.S. The U.S.-Mexico food and agricultural relationship is vital to both countries, and the impacts reach far beyond the US$40-plus billion in bilateral trade—providing jobs and keeping rural communities vital, while keeping grocery stores well stocked with affordable food 365 days a year.