In a significant move to bolster trade advocacy, the Texas Association of Business (TAB) has launched the Texas Leads Trade coalition. This initiative aims to represent Texas businesses during the renegotiations of the United States-Mexico-Canada Agreement (USMCA). Glenn Hamer, the president and CEO of TAB, emphasized the critical role that trade plays in Texas's economy, noting that Texas exports totaled over $444.6 billion in 2023, which accounted for nearly 22% of all U.S. exports. Notably, trade with Mexico reached $272 billion, while trade with Canada was valued at $71 billion during the same period.
The Texas-Mexico border is a vital corridor for trade, handling 68% of U.S.-Mexico trade and facilitating an impressive $24 million in trade every hour. In 2023, Texas ports played a crucial role in this economic activity, facilitating nearly $799 billion in trade with Mexico alone. Hamer's insights highlight the importance of maintaining strong trade relationships, particularly with neighboring countries, as Texas continues to be a key player in the national economy. This coalition is expected to advocate for policies that support Texas businesses and enhance trade relations with both Mexico and Canada.
In addition to these developments, the Asociación de Empresarios Mexicanos (AEM) is also working to strengthen economic connections between San Antonio and Mexico. Founded in San Antonio in 1996, AEM focuses on boosting trade and collaboration between the United States and Mexico. Victor Reyna, the president of the San Antonio chapter of AEM, is leading efforts to deepen these economic and cultural ties. Recently, AEM visited Monterrey's business ecosystem and plans to take a delegation to Guadalajara, further enhancing economic activity between the two regions. The synergy between AEM's initiatives and the Texas Leads Trade coalition underscores a growing commitment to fostering robust economic relationships with Mexico.
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