Mexico overtook the Asian giant in the value of exports to the U.S. in the cumulative first 11 months of 2023, totaling almost $439 billion, while China lagged behind with $393 billion

Mexico overtook the Asian giant in the value of exports to the U.S. in the cumulative first 11 months of 2023, totaling almost $439 billion, while China lagged behind with $393 billion

The anti-China restrictions imposed by the United States are paying dividends and, on one level in particular, Mexico has been the major beneficiary. Since the toughening of President Joe Biden’s rhetoric and the imposition of tariffs and restrictions on the export of critical technologies from China to the U.S., Beijing’s exports have dropped. Over the same period, Mexico has been gaining ground, according to U.S. Census Bureau data released Tuesday.

Mexico overtook the Asian giant in the value of exports to the U.S. in the cumulative first 11 months of 2023, totaling $438.986 billion, while China lagged behind with $393.137 billion. Everything points to 2023 being the year in which Mexico dethroned China as the main exporter to the United States. Among the products that the U.S. purchases most widely from Mexico are cars and auto parts, electronics, petroleum, and agricultural products.

  • @CluelessLemmyng
    2•5 months ago

    Is this including drug experts by cartels? (jk)

    I’m not really an economics expert, but would China get around tariffs and restrictions by going through Mexico?

    • @MicroWave@lemmy.worldOPEnglish
      5•5 months ago

      According to the Economist, China is trying and the US is aware of it:

      A growing Chinese presence in Mexico could backfire if it raises tensions with the United States. Most Chinese manufacturing and assembly in Mexico seems to be aimed at exports, observes Mr Dussel Peters—especially to America. This is alarming some lawmakers across the border. In a recent letter to Katherine Tai, the US Trade Representative, four members of Congress warned of Chinese carmakers in Mexico trying to take “advantage of preferential access to the US market through our free-trade agreements and circumvent any [China-specific] tariffs”. If China is too successful in skirting tariffs it may find its back door as well as the front entrance slammed shut.

      https://www.economist.com/business/2023/11/23/why-chinese-companies-are-flocking-to-mexico