Photo: México Bandera Mapa By: GDJ. Source: Pixabay.
China was surpassed by Mexico as the largest supplier of goods to the United States in the first three months of 2023. According to the United States Census Bureau, the country imported goods from Mexico worth $115.5 billion in the period from January to March, representing 15.4% of its total imports, a figure that marked a historical record.
As a result, China was displaced to third place as a supplier of goods to the United States with a value of $99.7 billion and a share of 13.3%. Meanwhile, Canada positioned itself as the second-largest supplier with $104.3 billion.
Marco Oviedo, Latin America strategist for XP Investimentos in Sao Paulo, stated that the increase in production and exports from Mexico is a result of the normalization of production chains that were disrupted by the pandemic, in addition to the trade tensions between the United States and China that have maintained tariffs on imports.
Top headline:
Omnia. (2023, 4 de mayo). México desplaza a China como mayor proveedor de mercancías a EU.
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El Financiero. Valdelamar, J. (2023, 5 de mayo). ¡Toma eso, China! México la desplaza como mayor proveedor de mercancías a EU.