The Current Canada and Mexico — new best friends
Feb 18, 2026
Andres Rosenthal, veteran Mexican diplomat and former deputy foreign minister; Shauna Hemingway, ex-Canadian diplomat now advising businesses in Mexico City; Monica Lugo, director at a near-shoring firm linking Canadian manufacturers to Mexico. They discuss Mexico’s economic evolution since NAFTA, nearshoring and job concerns, security risks for Canadian companies, and how Canada and Mexico are diversifying ties amid U.S. disruption.
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Mexico's Practical Business Appeal
- Mexico is a compelling partner due to proximity, free trade under USMCA, and lower labour costs.
- Monica Lugo says these factors make Mexico an ideal complement to Canadian business strategies.
Canada Seen As Credible And Different
- Mexicans view Canada as credible and distinct from the U.S. in business style and politics.
- Shauna Hemingway notes Mexico understands Canadian politics and respects Canadian approaches.
Match Operations To Comparative Strengths
- Assess comparative advantages before relocating production and match operations to each country's strengths.
- Monica Lugo advises focusing on complementarity, not simply offshoring to cheaper labour.