In a significant shift, the US is now importing more goods from Mexico than China, marking the first time since 2003, due to increased economic tensions and geopolitical factors.
US companies are diversifying their supply chains away from China, with computer maker HP and even Apple shifting production to other countries like Thailand and Mexico.
The presence of American car companies in Mexico has also contributed to this change. The potential conflict between China and Taiwan is a major concern for US companies with manufacturing ties to China, as it could disrupt economic relations, similar to the US-Russia situation during the Russia-Ukraine war in 2022.
Read more: Bloomberg
