Mexico City.- Of the total imports that the United States made from various countries during the first quarter of the year, it purchased fewer products from China, while those from Mexico increased.
In the accumulated of the first three months of the year, China represented 11 percent of US imports, that is, it had a decrease, since in the same period of 2022 it represented 13.8 percent of the total, according to an analysis of Mexico How are we doing?
While the United States imported 15.7 percent of the total from Mexican territory this year, against 14.5 percent in 2022.
The reduction in the participation of the Asian giant is due to several factors, said Mario Echagaray, partner in charge of the Foreign Trade Practice at Salles Sainz Grant Thornton.
He highlighted the trade war that has been going on since the Trump administration, which has escalated to significant levels such as Google’s blockade of the Huawei company and the imposition of additional tariffs of up to 25 percent on products from China.
“(Those situations) have maintained the levels of tension between the two countries and therefore affected the flow of trade between the two,” said Echagaray.
Other important factors are the effects of the pandemic, the shortage of containers to transport merchandise from Asia and the reduced availability of raw materials.
Mexico sent 115 thousand 493 million dollars in the first quarter of 2023, which meant an increase of 8.7 percent in that period, according to the United States Census Bureau.
The reduction of Chinese participation and the possibility that Mexico increases its participation in the US market is a trend that could continue.
“It should come as no surprise that the trend continued as the trade war continues, if not at the same levels, but still in force.
“On the other hand, the nearshoring issue is another factor that could move the numbers in favor of Mexico,” he said.
The investments from China that are coming to the country are to establish manufacturing whose main destination will be the North American market, which takes advantage of the geographical proximity of the T-MEC, he added.
“These factors could tip the balance towards a gradual increase in exports to the United States from Mexico. In addition, it must also be considered that due to the pandemic, trade was affected, and pre-pandemic levels are recovering,” he concluded.
