The U.S. men's national team remained 16th in the latest FIFA rankings released Thursday, while Canada climbed to a new all-time high and Mexico moved up two spots following last month's Concacaf Nations League finals.

The U.S. lost both its games at SoFi Stadium in Inglewood, California, falling to Panama in the semifinals before going down to Canada in the third-place match. It is now just one place ahead of rivals Mexico, which received a boost after beating Canada and Panama to claim its first Nations League title.

Panama's reward for its shock victory over the U.S. is a three-place bump up to No. 33.

Despite falling to Mexico in the semifinals, Canada moved up one spot to new best of No. 30, continuing a staggering rise for the men's team. A little more than a decade ago, in October 2014, the team was ranked a lowly 122.

But after qualifying for its first World Cup in 36 years in 2022, the Canadians have continued their upward trajectory under American coach Jesse Marsch.

Canada, the U.S. and Mexico have automatically qualified for the next World Cup in 2026 as co-hosts. Their next competitive matches will come at the Concacaf Gold Cup, beginning June 14.

At the top of the FIFA rankings, world champions Argentina remains at No. 1 after sealing its qualification for the next World Cup with wins over Uruguay and Brazil last month.

European champions Spain moves up one spot to second, swapping places with France, while England and Brazil round out the top five.