In mid-July, Mexico passed China to become the U.S.’s largest trading partner. Experts say Mexico’s gains are due to the U.S. strategy of gradual economic decoupling from China. This trend has is also named “Friendshoring,” where trade moves from China to countries like Mexico, India, Vietnam, and other trade partners with less contentious relationships with the U.S.
Canada rounds out the top 3 trade partner list, but has trouble competing with Mexico’s 3X larger and younger population, as well as lower labor costs.
Read the full story in The Hub, here
Image: TheHub.ca
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