Mexico overtook China last year as the top source of imported goods to the United States. The change reflects growing tensions between Washington and Beijing, as well as US efforts to import products from friendlier countries closer to home, in a strategy called “nearshoring”.
Figures released this Wednesday, 7th, by the US Department of Commerce show that the value of goods imported from Mexico to the US increased by almost 5% between 2022 and 2023, to more than US$475 billion. At the same time, the value of Chinese imports fell 20% to US$427 billion.
The last time Mexican products imported into the United States exceeded the value of imports from China was in 2002.
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