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Trends and Insights

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9 Feb 2024

Mexico Overtakes China as Top US Import Source

In a significant shift, Mexico surpassed China [as the primary goods supplier]( to the US in 2023. US imports from China dropped by 20.3%, reaching $427.2 billion, marking the lowest share since 2004 at 13.9%. In contrast, imports from Mexico increased by 4.6% to $475.6 billion. This change highlights the impact of tariffs and efforts to diversify supply chains, with China's dominance in US imports waning for the first time since 2007.