Mexico has been one of the major winners of the nearshoring trend that has seen North American and European companies look to diversify their procurement by sourcing a larger portion closer to home. Containerized exports from China to Mexico were up 60% in January. Trade between China and Mexico accelerated from 3.5% growth in 2022 to 34.8% last year.
Supply chain players are bracing for the impact of a new round of tariffs recently announced by the United States against select Chinese imports, which could lead to more volatility and increased costs.
