MEXICO CITY - U.S. President Joe Biden and newly inaugurated Mexican President Claudia Sheinbaum spoke on the phone on Friday, both said on social media, with Sheinbaum pointing to discussions about economic and trade cooperation.

The U.S. and Mexico are each other's largest trade partners, and Mexico is Latin America's No. 2 economy.

Sheinbaum took office earlier this week for a six-year term, while the United States will hold presidential elections in November.

Biden, in a post on X, congratulated Sheinbaum as Mexico's first woman president and said he looked forward to "continuing the strong and collaborative partnership" between both countries.

"We discussed bilateral cooperation in economic, cultural and trade matters," Sheinbaum said on X.

U.S. Vice President Kamala Harris faces off against former Republican President Donald Trump in next month's elections, with polls showing the race is tight.

A Harris presidency would likely take a similar approach to Biden's regarding trade matters with Mexico, while Trump has promised he would slap tariffs on products such as cars coming from Mexico.

  - Reuters