Transatlantic relations, so-called, could be divided in two main areas: international politics and defence on one side, economy and trade on the other side. In the case of Mexico there is no such division. The relations between Europe and Mexico always were essentially economic and at least since the French intervention in the past century there was no rhetoric such as a common vision of the world or shared ideals that are worth to fight for together. During the Cold War Mexico and Europe were not on opposite sides but were clearly different. To Mexico then, the North/South political and economic divide was at least as important as the East/West divide. For that reason this paper will focus exclusively on the trade and economic aspect of the relation, the only one for which the comparison between Mexico and the United States, in their relation with Europe, is possible.