Employees work on the assembly line of the Tiguan model, at the Volkswagen car plant in Puebla, central Mexico in 2018.

China and the United States are disrupting trade in much of the world with their trade war — but Mexico may be a winner.

Despite fresh hopes among investors for a peaceful conclusion, the trade conflict that began between the world's two biggest economies more than a year ago shows no substantive signs of ending.

But amid all the chaos, Mexico is coming out on top, said John Murphy, senior vice president for international policy at the U.S. Chamber of Commerce. Mexico, he said, has been able to build on its emergence as a manufacturing hub "with free-trade agreements that offer guaranteed access to more than 50 foreign countries."

"Mexico has a number of key advantages in comparison to other cheaper labor options, predominantly in the Southeast Asian region, as a manufacturing and export platform," Murphy outlined via email for CNBC.

Mexico's close proximity to the U.S. market and tariff-free access it enjoys with the United States A relatively minor cultural gap between the U.S. and Mexico that has improved drastically over the years Substantial degree of integration between the two countries:

- 36 million Americans of Mexican descent

- hundreds of billions in annual bilateral trade

- more than $100 billion in U.S. direct investment in Mexico Infrastructure connections domestically and cross-border that continue to improve

Much of the discussion about countries benefiting from the trade war has focused on smaller nations in Asia such as Vietnam, or other economies whose companies have shifted operations home from China.