Following the election of Mexican President Enrique Peña Nieto and the reelection of U.S. President Barack Obama, the Mexico Institute’s latest policy report looks forward to a new era in bilateral relations. In addition to new players, the context of the relationship has changed markedly over the since the previous presidential elections in either country. Booming bilateral trade, efforts to reform U.S. immigration laws, a robust reform agenda in Mexico, and ongoing but evolving cooperation in addressing public security and organized crime frame the new era of bilateral ties. In this evolving context, this report offers a series of new ideas on how to strengthen U.S.-Mexico relations.