The anti-China restrictions imposed by the United States are paying dividends and, on one level in particular, Mexico has been the major beneficiary. Since the toughening of President Joe Biden’s rhetoric and the imposition of tariffs and restrictions on the export of critical technologies from China to the U.S., Beijing’s exports have dropped. Over the same period, Mexico has been gaining ground, according to U.S. Census Bureau data released Tuesday.
Mexico overtook the Asian giant in the value of exports to the U.S. in the cumulative first 11 months of 2023, totaling $438.986 billion, while China lagged behind with $393.137 billion. Everything points to 2023 being the year in which Mexico dethroned China as the main exporter to the United States. Among the products that the U.S. purchases most widely from Mexico are cars and auto parts, electronics, petroleum, and agricultural products.