Good afternoon, everyone. Thank you to our Mexican partners for hosting us. I am glad to be here with all of you.

One year ago, our governments restarted the HLED to reengage in a positive economic and commercial dialogue to advance our shared priorities. Our goal is to make it easier for our countries to trade, invest, and innovate.

Along the way, we’re creating the economic conditions that will develop high-skilled workforces, uplift our people, and spur the next wave of economic growth.

Through our four pillars, our governments have established a broad vision and framework for our economic partnership. Together, we’ve moved forward on key priorities including supply chains, information and communications technology and cybersecurity, and workforce development.

Already we’ve identified the supply chains that are most ripe for collaboration, shared best practices to strengthen cybersecurity, and we’ve implemented an Academy of Women Entrepreneurs program supporting 800 women across 13 Mexican states.

By any measure, we’ve made great progress. But I know there is more we can do.

Just last month, as Secretary Blinken mentioned, President Biden signed the CHIPS and Science Act into law. While the law’s funding will supercharge the U.S. semiconductor industry, it will also create significant opportunities for Mexico. It’s a chance for our two countries to work together to build a robust semiconductor ecosystem on both sides of the border.

Similarly, the recently signed Inflation Reduction Act includes an unprecedented $369 billion in funding to curb emissions and spur demand for electric vehicles and clean energy technologies. These provisions will drive investment into the North American manufacturing sector and deepen our supply chain integration.

I hope to speak today with my Mexican counterparts about how we can work together to make the most of the opportunity that the CHIPS and Science Act and Inflation Reduction Act create for North America.

We also have opportunities in new areas of cooperation, including renewable energy and energy efficiency.

Finally, I want to stress the importance of stakeholder engagement to the HLED and our commitment to it. Stakeholder input from the private sector and civil society will be critical to ensuring the HLED remains relevant and delivers results.

I hope we can continue to deepen our commitment to stakeholder engagement in the year ahead.

I’m looking forward to working with my HLED co-chairs as we discuss our priorities under the four pillars.

Thank you.