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Trends and Insights

25 Jan 2024

Mexico Surpasses China as Top U.S. Goods Importer

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In 2023, US imports from Mexico [reached $439bn](, surpassing China's $393bn, a 21% decrease from the previous year. As the US-China trade war persists, impacting sectors like semiconductors, China shifts towards a domestic-focused economy. Canada follows closely with $388bn in goods imported to the US. Concurrently, China's stock market experienced its worst day due to real estate, growth, and demographic concerns. President Xi Jinping's strategy focuses on internal development amid global disengagement.