For the first time in more than twenty years, Mexico took China’s place
as the leading source of goods imported by the United States.
This change, which took place over the last year, brings attention to
the growing tensions between the U.S. and China.
It also highlights American efforts to import from countries that are
friendlier and closer to home.
Figures released recently by the U.S. Commerce Department show that the
value of goods imported by the U.S. from Mexico rose nearly 5 percent from 2022
to 2023, to more than $475 billion. At the same time, the value of Chinese
imports dropped 20 percent to $427 billion.
The last time that Mexican goods imported by the United States were
greater than the value of China’s imports was in 2002.
Economic relations between the United States and China have declined in
recent years.
The Trump administration began putting tariffs on Chinese imports in
2018. The administration argued that China’s trade policies broke international
trade rules. President Joe Biden kept those taxes on imports after taking
office in 2021.
Some Chinese manufacturers have established factories in Mexico to get
the benefits of the 3-year-old U.S.-Mexico-Canada Trade Agreement. The
agreement permits duty-free trade in North America for many products.
Mexican President Andrés Manuel López Obrador said last week that the
trade deal gives Mexico new power.
Derek Scissors, a China specialist at the American Enterprise Institute,
noted that the biggest drops in Chinese imports were in computers and
electronics and chemicals and pharmaceuticals — all politically difficult
areas.
Photo Credit: Daily Mail
From VOA (edited)
