Yes. In fact, the United States is the largest consumer of Mexican oil, accounting for some 80-85% of all oil exports.
Mexico
Yes. Most of the time the US has a trade deficit with Mexico.
The Gulf of Mexico is shared by Mexico and the United States. It is a large body of water bordered by the southeastern United States, Mexico, and Cuba. It is an important region for trade, fishing, and oil production.
In 1853, the US President Franklin Pierce and Mexico's ruler Santa Ana agreed to have the US purchase land from Mexico. The area was a small strip of land between the US and Mexico. The US idea was that a transcontinental railroad could run from New Orleans to California. The chief US negotiator was James Gadsden. The agreed price was $10 million.
It already does.
There is a trade amount of some US$294 billion, including US$179 billion on exports from Mexico into the United States, and US$115 billion on imports from the United States into Mexico.
Mexico's largest trade partner is the United States. Oil exports from Mexico to the United States totaled US$26.7 billion for 2014, or 70% of total oil exports from Mexico. The second and third largest importers of Mexican oil include respectively, Spain ($5.3 billion or 12% of total oil exports) and India ($2.6 billion, or 7% of oil exports).
the oil
If you take Mexico out of the equation, balance would be positive by about US$ 11.4 billion. This is because trade with Mexico is larger that the trade with the rest of all Latin America combined:US-Central and South America Trade (2012):exports: US$ 183,187.8 millionimports: US$ 171,780.5 millionbalance: US$ 11,407.3 millionUS-Mexico Trade (2012)exports: US$ 215,931.2 millionimports: US$ 277,569.8 millionbalance: US$ -61,638.6 million
food
NAFTA is the North American Free Trade Association; it helped Mexico, Canada, and the US trade easier with each other.
It already does: bilateral trade between Canada and Mexico accounts for approximately US$18.86 billion (2009).