Friday, April 21, 2023

Mexico trade

Japanese, South Korean and Chinese companies are building manufacturing facilities in Mexico to get closer to the US market something called nearshoring. Chinese also escape the US import tax on Chinese goods by claiming made in Mexico. This practice has made Mexico the US largest trade partner. There are more goods coming across the border at Laredo than at Long Beach and LA combined. This is also encouraged by the new NAFTA deal. China's economy is heavily on US consumers and businesses.

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