Mexico is the second-largest economy in Latin America, with a GDP of $1.8 trillion in 2025 and a population of 132 million — the most populous Spanish-speaking country in the world. Its per capita GDP of $13,874 places it in the World Bank’s upper-middle income category, a meaningful distinction in a region where many economies remain in the lower-middle or low-income tiers. Economic growth has been modest but positive. Real GDP expanded by 0.

USMCA was supposed to lock in preferential market access between the United States, Mexico, and Canada. The current U.S. tariff posture is testing just how durable that framework is. As of February 24, 2026, U.S. imports from Mexico are subject to a 10% tariff imposed under Section 122 of the Trade Act of 1974, valid for up to 150 days. The measure includes a carve-out for goods that qualify under USMCA rules of origin — meaning products that meet the agreement’s domestic content requirements can avoid the levy — but that exception does not cover everything crossing the border.