**10,000 Powder Incentive Plan The U.S. Department of Commerce released the latest data showing that in the past 2023, the value of U.S. imports from China was $427 billion, a decline of 20%, and this is the first time in more than 20 years that China has lost its position as the largest importer of the United States.
As the two largest economies in the world, the Sino-US economy and the most advanced relationship have a far-reaching impact on the global economy and trade.
In 2023, the amount of China and the United States will decrease by 116%
In the whole of 2023, China's foreign trade imports and exports will approach the $6 trillion mark, of which the United States is China's third largest country, and the top two partners are ASEAN and the European Union, and ASEAN is China's largest partner.
Among them, the amount of China and the United States will reach 664.4 billion US dollars in 2023, a year-on-year decrease of 116%, exports to the United States were 500.2 billion US dollars, imports from the United States were 164.2 billion US dollars, imports and exports both declined, and the ** surplus with the United States reached 336.1 billion US dollars.
Throughout 2023, the ** surplus of China's foreign trade import and export will be as high as 823.2 billion US dollars, of which the ** surplus with the United States will account for 40%.
China is no longer the largest importer from the United States.
In February, the U.S. Department of Commerce released important data on ** exports, and the total value of U.S. imports from China in 2023 was about $427 billion, while imports from Mexico reached $475 billion.
This means that Mexico has "caught up", surpassing China to become the largest importer of goods in the United States, after more than 20 years, Mexico has achieved this goal again, which also shows that the United States is still sparing no effort to promote the return of manufacturing and economic decoupling.
Obviously, driven by the decoupling of Laos and the United States, Mexico has become one of the biggest beneficiaries, especially under the promotion of the policy of "nearshoring", Mexico has become the main commodity country of the United States nearshore, and its "neighbor" Canada is the second largest commodity importer of the United States.
Although China and the United States have different statistical rules for foreign trade imports and exports, we can see from the trend changes in the data that the United States is reducing the scale of imports from China, especially electronics, computers and chemicals.
Can Mexico really "replace" China?
Since the United States signed the Freedom Agreements with Mexico and Canada, the amount of goods imported from Mexico and Canada has increased rapidly, especially the scale of imports from Mexico and Canada.
Canada is a developed country, but it is still far behind the United States, so there are not many technology and industrial products exported to the United States, mainly relying on its own rich natural resources, continue to export to the United States to make money.
However, Mexico is a developing country with a large labor force and rapid industrialization, and has all the conditions needed to become a U.S. nearshoring base, but for now, it is clearly unrealistic for Mexico to replace China.
According to the description of the United States itself, some multinational companies have transferred part of their manufacturing industry from China to Mexico, but still have to purchase raw materials and original parts from China, and Mexico undoubtedly plays the role of a "transit point" in this process.
In fact, some multinational companies directly regard countries like Mexico as "transit points" and export Chinese-made goods to the United States, mainly because exports from Mexico to the United States are basically tariff-free, and the distance is more convenient.
Mexico's current positioning is a bit like Vietnam, the Philippines and other countries in Southeast Asia, and the United States is also increasing the scale of imports from Southeast Asia, but Southeast Asia's commodity raw materials still have to be purchased from China.
According to the data, in 2023, China and Mexico will have a ** value of 100.2 billion US dollars, exports to Mexico will be 81.5 billion US dollars, imports from Mexico will be 18.7 billion US dollars, and a surplus of 62.8 billion US dollars will be ** Mexico.
China's exports to Mexico in 2022 will be 77.5 billion US dollars, and in 2023, China's exports to Mexico will increase to 81.5 billion US dollars.