In addition to politics, the pandemic, which disrupted trade chains, played a role in the fall in Chinese imports.
Mexico has overtaken China to become the main supplier of goods to the United States. ABC News reports.
On Wednesday, February 7, the US Department of Commerce released data showing that the value of goods imported by the US from Mexico increased by almost 5% from 2022 to 2023 to more than $475 billion. At the same time, the value of Chinese imports fell 20% to $427 billion.
The largest drop in Chinese imports was observed in electronics (in particular, computer equipment), as well as products from the chemical and pharmaceutical industries.
It is noted that the last time Mexican goods imported by the United States exceeded Chinese imports in value was back in 2002.
New data reflects what has happened in relations between China and the United States. This refers to Taiwan, which has recently become an arena of confrontation between world hegemons. Americans are also concerned about the aggressive promotion of Chinese goods on the international market.
Most likely, China will not be able to return to first position in the near future.
“I don’t see the US being happy with the recovery in these areas in 2024 and 2025,” says China specialist Derek Scissors of the American Enterprise Institute.
Mexico was among those who benefited most from the decline in US-China trade. But the picture is more complex than it might seem at first glance. The fact is that some Chinese manufacturers have built their factories in Mexico to take advantage of the 3-year trade agreement between the United States, Mexico and Canada, which allows duty-free trade in many products in North America, the newspaper writes.
The trade war could turn into a real one
Meanwhile, in America they are increasingly talking about the possibility of a “hot” war between the United States and China. According to American Admiral Samuel Paparo, it could begin before 2027, when the Chinese army will celebrate the centenary of its founding.
Earlier, Chinese President Xi Jinping told US President Joe Biden that China’s takeover of Taiwan was “inevitable.”
