Mexico clinched a new trade deal with the U.S. and Canada last year and has now replaced China as the U.S.'s largest single trading partner. Foreign direct investment in Mexico fell 5.2% last year compared with 2018, according to preliminary government figures, while the economy shrank by 0.1% in 2019. Despite the new U.S.-Mexico-Canada trade deal, the Trump administration could upend trade relations at any time. In his first year in office, he canceled the country's biggest public-works project, a partially built Mexico City airport, and halted any new oil auctions for private oil firms. Mexico's lagging foreign investment is a long-term trend.

Source: Wall Street Journal March 15, 2020 10:52 UTC