Mexico unveils plan to counter Chinese imports amid US pressure

Mexico unveils plan to counter Chinese imports amid US pressure

Kyiv  •  UNN

 • 24843 views

The Mexican government has developed a plan to reduce the trade deficit with China, which reached $105 billion in 2023. The plan calls for increasing domestic production and attracting investment to reduce dependence on Chinese imports.

The Mexican government has unveiled a plan to reduce its trade deficit with China. The plan comes at a time when Mexico is trying to counter US claims that “Mexico allows Chinese goods” to transit through the country to the United States.

Transmits to UNN with reference to FT.

Mexican President Claudia Sheinbaum unveiled a plan to increase domestic production and reduce imports.  The government presented a plan to reduce the trade deficit with China and attract investment.

Sheinbaum dubbed this decision the “Mexico Plan.” It is an attempt to increase national production in sectors ranging from textiles to automobiles and reduce the trade deficit with China, which grew to $105 billion in 2023.

Mexican America sounds good: Mexico's president responds to Trump08.01.25, 22:02 • 24266 views

“It's been proven to be one of the best trade deals in history, and it's benefited three countries. It's the only way we can compete with Asian countries, particularly China,” Sheinbaum told business leaders at an event at the National Anthropological Museum. 

Earlier, Trump's representatives expressed concern about China's growing role in Mexico's economy. 

Until recently, there was little public debate in Mexico about China's role in its economy as investment and trade grew faster after the Covid-19 pandemic. The trade deficit with Beijing has also grown to 38% of GDP.

Yuan falls to 16-month low due to possible high Trump tariffs on Chinese goods08.01.25, 19:08 • 26257 views

To counter this, Sheinbaum will need to attract investment by overcoming the uncertainty created by both Trump and her government's domestic agenda, the Financial Times writes .

For reference

Relations between the United States and China remain tense as political pressure for confrontation grows. In contrast to the military and ideological conflict that characterized the Cold War of the 20th century, today's rivalry between the United States and China is centered on issues related to technology and trade in key global sectors.

Biden administration's new AI chip export rules spark controversy in the industry13.01.25, 15:12 • 21990 views

Over the past decade, the relationship has turned from cooperative to competitive, making China an adversary rather than a partner. As the United States and China advance their respective concepts of governance, multilateral cooperation offers a way to reduce tensions.

China is building barges that could play a decisive role in an attempted invasion of Taiwan13.01.25, 16:27 • 22176 views