VLVLY - Borderlands Mexico: Experts Push Infrastructure to Boost Cross-Border Trade | Benzinga
MONTERREY, Mexico — With nearshoring accelerating trade growth between the U.S. and Mexico, experts said both countries need to focus on infrastructure, technology, policies and cargo security to keep goods flowing seamlessly.
"The reality is there's never been a time when U.S.-Mexico trade was more important than it is right now" Mark Yeager, CEO of Chicago-based Redwood Logistics, said Tuesday during the company's inaugural Cross-Border Logistics Council.
The two-day event brought together more than 75 shippers, technology companies and trade professionals in Monterrey to discuss cross-border supply chains, nearshoring trends and other topics.
"This is our Olympics, our World Series. It can be challenging, complex and can require patience and perseverance, but we also all know that that kind of complexity comes with opportunity — opportunity for all of us" Yeager said.
U.S. trade with the world totaled $5.1 trillion in 2023, according to data from the U.S. Census Bureau. Mexico did almost $800 billion in trade with the United States last year, once again becoming the nation's top trade partner.
Redwood Logistics recently held its inaugural Cross-Border Logistics Council event in Monterrey, Mexico, featuring fireside chats and panel discussions on U.S.-Mexico trade. Pictured from the left are Alejandro Gonzalez, COO of Gontor Logistics; Israel Delgado, vice president of Canacar's northeast region and CEO of Express Service Transport; Marianna Raphael, general director of Connecting Mexico; and Noi Mahoney, reporter at FreightWaves. (Photo: Redwood Logistics)
Infrastructure that would increase trade across North America was a major talking point at the event.
"I think you're seeing growth all across the U.S.-Mexico border … and Laredo [Texas] is where the rubber meets the road" said Jordan Dewart, president of Redwood Mexico. "I think that's where the infrastructure is headed. That's where the main investment deals on highways to access the border are going. If you go to Laredo right now, the amount of new warehousing construction, new trucking ...