For the first time in more than 20 years, the United States purchased more goods from Mexico than China in 2023, highlighting a change in international trade and spotlighting America’s de-risking efforts.
The United States ran a $152.38 billion trade deficit with Mexico, up 16 percent from the previous year.
By comparison, the United States bought roughly $427 billion in goods from China and shipped nearly $148 billion. The U.S. trade deficit with Beijing was close to $280 billion, narrowing by 27 percent from 2022.
That made Mexico the chief source of official imports.The last time U.S. trade with Mexico outpaced trade with China was in 2002. That year, U.S.–Mexico trade totaled about $232 billion while U.S.–China trade was nearly $148 billion.As part of the intensifying shift in global trade, Census data confirmed that […]
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