The Latin American country overtook China and established itself as the main source of goods imported by the United States in 2023. Official data shows imports from Mexico to the world’s leading economy are set to rise 5% to $475 billion between 2022 and 2023. This scenario further reduces the value of Chinese imports, which have declined by 20%, and worsens relations between Beijing and Washington.
For the first time in two decades, the United States bought more goods from Mexico than from China. In terms of total US imports, The representation ratio of Chinese products stood at 13.9%, the lowest level since 2004, while Mexican products represented 15.4%.
Statistics are clear and already declared Joe Biden’s government intends to move away from the Chinese economy and get closer to its “friendly” partners A deliberate practice known as ‘friend-shoring’ and ‘nearshoring’.
And despite the fact that relations between Beijing and Washington have not been the best historically, the perfect scenario for distancing themselves on an economic level was created in the COVID-19 pandemic, when problems reached supply chains and China Focused on creating control. Strict with its “zero Covid” policy.
APEC: China and the United States want to reduce tensions in favor of their trade relations
Faced with limited China and an intention to diversify its supplier options, Mexico became the perfect choice.
From the Latin American country to its neighbor the United States, what is most exported are auto parts and precisely the trade agreement with which Canada also entered into, signed in 2018 but entered into force in 2020, has The faction has helped promote commercial relations.
Business friends, but immigration enemies?
Although the trade results come as a balm to the Mexican economy, the uncertainty of what could happen at its borders with the United States has not been well received.
A new law is being debated in the US Senate that promises to disrupt migrant flows between the two countries if migration reaches “saturation” point.
More than 4,000 migrants cross Mexico into US despite containment efforts
According to the proposal backed by President Biden, asylum seekers would be expelled to Mexico and the border would be closed if a cap of 5,000 irregular crossings per day is exceeded. A brand about which even Donald Trump has said that it is not necessary to reach out to close the doors.
And with this landscape of suspicion, in Ciudad Juarez, in the north of Mexico, maquilas have already lost more than 25,000 jobs and the threat of law enforcement has complicated the hiring of new personnel.