As the T-MEC trade agreement approaches its review, critical minerals are highlighted as a focal point for North America's economic security, particularly for Mexico, which is strategically positioned with significant resources. EY-Parthenon experts indicate that the scarcity of essential resources, including critical minerals and water, has evolved into a pivotal geopolitical issue that governments are prioritizing. Specifically, the U.S. is advocating for policies to secure access to these crucial materials, either through collaboration with other nations or by investing in mining ventures globally.

Adam Barbina, the U.S. geostrategy leader at EY-Parthenon, along with chief economist Gregory Daco, emphasizes that a significant aspect of the U.S. government's agenda, especially in discussions related to T-MEC, revolves around establishing a robust framework for the management and extraction of critical minerals. This initiative is not only aimed at enhancing economic resilience but also ensuring that North America remains competitive and less reliant on global supply chains that have been disrupted in recent years.

Given the geopolitical landscape, such strategic positioning regarding critical minerals could lead to a transformative shift in North America's trade dynamics and economic policies. It also signifies a deepening dependency among these nations on each other's resources while potentially leading to increased tensions or cooperation depending on how each country navigates these critical issues moving forward.