(New York News) The United States is seeking diversified supply chain to reduce dependence on China, and the manufacturing industry of neighboring countries has become a big winner.
For companies that have experienced confusion in the supply chain during the crown disease, or to reduce the dependence on Sino -US trade in geopolitics, the Mexican manufacturing industry has become the best choice for Nearshoring.
Ramos, director of the economic research of Goldman Sachs Latin America, pointed out in an interview with the United States Cable Television News (CNN) that Mexico and China have been competing for the US manufacturing market for many years. With the ups and downs of Sino -US relations, Mexico is now nowadays.Occupy advantage.
According to Morgan Stanley's data, Mexico has surpassed China in 2023, becoming the largest exporter to the United States, and these exports are driven by manufacturing; the economic proportion of manufacturing in Mexico is 40%.
The trade data released by the US Department of Commerce in early April showed that the goods imported from Mexico in February this year continued to increase.Compared with 2022, China ’s exports to the United States in 2023 fell by 20%.
The U.S. and Chinese companies have seen the potential of Mexican manufacturing-low labor costs, near the US market, and the free trade agreement signed by the United States-Mexico-Canadian Agreement in 2020 to make North American trade more cost and efficiency.
Mexico is currently the seventh largest automotive producer in the world. Major automakers in the United States include GM, Ford, and Stellandis in Mexico; almost all automakers in the United States rely on Mexico to provide automotive parts because these parts are made in the United States.The parts are much cheaper.
US electric vehicle giant Tesla announced last year that it would build a new plant in Montere, northern Mexico. President Musk said that the new plant will increase Tesla's production capacity instead of replacing other manufacturers.
Recently visiting Monterey's Royal Bank of Canadian investment group manager Ernemek said: "We have met the company and experts of the real estate industry. According to their feedback, the near -shore outsourcing is believed to be Mexico's growth momentum in the next many years, especially the momentum of Mexico, especially the momentum of Mexico, especially in particular, especially the momentum of Mexico, especially the momentum of Mexico, especially the momentum, especially the driving force, especially"
in the northern region"Morgan Stanley analysts predict that Mexico's exports to the United States will increase from US $ 455 billion (about S $ 619.6 billion) to $ 609 billion in the next five years.
Mexico also attracted Chinese companies to settle in.Tesla's rival and Chinese electric vehicle manufacturer BYD announced in February that it was building a factory in Mexico.BYD has no export cars to the US market, and settled in Mexico not only facilitates BYD to open up the Mexican market, but also prepares for entering the US market.If Chinese auto manufacturers produce cars in Mexico to the US market, they can avoid the high import tariffs facing when exporting to the United States directly from China.
