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For First Time in Two Decades, U.S. Buys More From Mexico Than China
(www.nytimes.com)
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this post was submitted on 07 Feb 2024
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Although I'm sure the headline is true, at least with my industry it's a little misleading. All we did over the past few years was cut in Mexico as middle men.
There's no cost effective domestic source of a particular raw material so it's traditionally been purchased from China and turned into a product in the US. With various tariffs and labor costs it's now cheaper to purchase the same raw material from China, turn it into components in Mexico (thus a Mexican product), and then do final assembly in the US. On paper we're importing things from Mexico but the majority of the money still ends up in the same place.
I'm curious if that's the case for other industries.
Taking the manufacturing away is the first step in both independence from China and pushing Mexico towards raw materials refinement by reinforcing the trades that depend on them.
If we can manage to starve China of certain manufacturing jobs the skills won’t be passed down and they’ll be back to making the simple, inferior products they’re known for in less than a generation.
Many of the companies doing this ARE Chinese and the goal is to effectively launder the production and make what amounts to a Chinese product seem Mexican by offloading some of the component assembly to Mexican facilities. This lets them sidestep US tarriffs that were imposed by Trump. The article addressed this.