February 27, 2024

The US is now buying more from Mexico than China for the first time in 20 years

The US is now buying more from Mexico than China for the first time in 20 years

The US is now buying more from Mexico than China for the first time in 20 years

By Noah Sheidlower and Cork Gaines
February 9th, 2024

New data released Wednesday by the Commerce Department showed that in 2023, Mexico was the leading source of goods imported to the US — ahead of China for the first time in over 20 years.

Mexico surpassing China as America’s top trade partner signals a significant shift in global commerce dynamics. As tensions between the US and China persist, fueled by trade disputes and tariffs, this transition to Mexico helps reduce costs and speed up the supply chain, ultimately lowering the costs of goods in the US.

Read More Article

About Author

Business Insider