Read previewNew data released Wednesday by the Commerce Department showed that in 2023, Mexico was the leading source of goods imported to the US — ahead of China for the first time in over 20 years.
Mexico surpassing China as America's top trade partner signals a significant shift in global commerce dynamics.
Chinese imports fell 20% in the same time period, to $427.2 billion, just slightly above Canada.
Additionally, the value of Chinese imports remained above the value of Mexican imports from 2002 until this most recent data.
More than a third of US imports — valued over $3 trillion — come from Mexico, China, and Canada.
Persons:
—, Joe Biden, Mexico Andres Manuel Lopez Obrador, HECTOR VIVAS, Biden, CLAUDIO CRUZ, Tesla, JULIO CESAR AGUILAR
Organizations:
Service, Commerce Department, Business, Trump, New York Times, Foreign, Investment, Automobiles, Getty Images, Bloomberg
Locations:
Mexico, China, Canada, Trade, South Korea, India, Vietnam, United States, Monterrey, Nuevo Leon, Getty Images Mexico, Nuevo León