The soon-to-be 47th president, who will be sworn in on Monday, voiced interest in traveling to China within his first 100 days in office.
Chinese exports and investment in Mexico are quickly rising. The Trump team fears its neighbor could be used as a backdoor to the U.S. market.
Mexico is planning to establish a “task force” to involve US companies in the process of reducing imports from China, the country’s economy minister told a group of auto suppliers at a private meeting Friday in Detroit.
China has strengthened trade with Latin America at the expense of the U.S. But Donald Trump, who threatens to raise tariffs on Mexico, could upend those ties.
Mexico’s government on Monday launched a plan to shrink its yawning trade deficit with China and attract investment, in an olive branch to Donald Trump’s incoming US administration.
Mexico, currently the No. 12 economy according to World Bank data, aims to crack the Top 10 by 2030, Sheinbaum said. The nation will do so by boosting local manufacturing and swapping out imports, creating manufacturing jobs and cutting through red tape to attract investments in the country, Sheinbaum said.
Trump, Mexico and European Union
Chinese companies looked to Mexico more than most. Their investment in the country has surged. Mr Trump (who has already threatened to apply a tariff of 25% to Mexican imports “on day one” unless it stops migrants and drugs from illegally crossing the border) believes those firms are using Mexico as a tariff-free gateway to the United States.
No, these aren’t trendy tech startups or flashy new cryptocurrencies. They’re Chinese automakers rapidly gaining traction in Mexico’s car market. The deals with the regional sports networks are for multiple years, and in line with moves Comcast/Xfinity has made in approximately 30 other markets.
Mexico is going to find a solution to avoid the imposing of tariffs by the United States, Economy Minister Marcelo Ebrard said on Friday, following threats from U.S. President-elect Donald Trump to do so.
He’s threatening to do it again. Round One inadvertently pushed China and Mexico closer together on trade and foreign investment, as China sought new trade partners and a detour for its exports ...
Mexico’s President Claudia Sheinbaum announced a plan to reduce the country’s imports from China in a bid to support local industry and align herself with the US and Canada as a trade partners.