U.S.-Mexico Economic Relations: Trends, Issues, and Implications [February 10, 2015] [open pdf - 514KB]
"During the 114th Congress, policy makers will likely maintain an interest in Mexico on issues related to cross-border trade and investment; Mexico's economic reform measures, especially in the energy sector; the Trans-Pacific Partnership (TPP) agreement negotiations; NAFTA [North American Free Trade Agreement] and WTO trade issues; and U.S.-Mexico border management. Congress may also take an active interest in ongoing bilateral efforts to promote economic competitiveness, increase regulatory cooperation, and pursue energy integration. Under the U.S.-Mexico High Level Economic Dialogue (HLED), which was launched in September 2013, the United States and Mexico are striving to advance economic and commercial priorities through annual meetings at the Cabinet level that also include leaders from the public and private sectors. Another bilateral initiative that may be of interest to policy makers is the High-Level Regulatory Cooperation Council (HLRCC), launched in February 2012, which is intended to help align regulatory principles. In addition, the two countries have a bilateral initiative for improving border management under the Declaration Concerning 21st Center Border Management that was announced in 2010. […] Policy makers may consider how a TPP would affect the U.S.-Mexico trade and investment relationship under NAFTA. Although nearly all U.S. trade with Mexico is now conducted duty and barrier free under NAFTA, the TPP negotiations may provide a venue for addressing issues that are not covered under the agreement. If approved, a TPP would not render NAFTA obsolete, but it could alter certain rules governing U.S.-Mexico trade since NAFTA entered into force. A TPP may have implications in several areas, including intellectual property rights protection, investment, state-owned enterprises, services trade, agriculture, government procurement, worker rights, and the environment."
CRS Report for Congress, RL32934