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Mexico has become the top exporter to the United States, surpassing China for the first time in 21 years. This shift is driven by the U.S. desire to reduce dependency on Chinese goods and the growing geopolitical tensions between the two countries.
According to official data, published Wednesday, the Latin American country became the most important trading partner of the United States, which bought the largest amount of its goods and services from its neighbor in 2023.
The U.S. has been imposing heavy tariffs on Chinese products since 2018 and has sought to diversify its suppliers and increase trade with countries that are more ideologically aligned. The Covid-19 pandemic and resulting supply chain disruptions have also played a role in reducing China's share of U.S. imports.
The share of Chinese products in total U.S. imports fell to 13.9% in 2023, the lowest level since 2004, while Mexico saw a 4.6% increase in its exports to the U.S.