{"id":8980,"date":"2024-10-10T14:32:29","date_gmt":"2024-10-10T18:32:29","guid":{"rendered":"https:\/\/latinamericasecurityreport.com\/?p=8980"},"modified":"2024-10-10T14:32:29","modified_gmt":"2024-10-10T18:32:29","slug":"mexico-takes-the-u-s-side-in-potential-trade-battles-with-china-and-seeks-to-boost-local-content","status":"publish","type":"post","link":"https:\/\/latinamericasecurityreport.com\/?p=8980","title":{"rendered":"Mexico Takes the U.S. Side in Potential Trade Battles with China and Seeks to Boost Local Content"},"content":{"rendered":"
Mexico\u2019s former Foreign Affairs Secretary Marcelo Ebrard speaks at the press conference announcing incoming President Claudia Sheinbaum\u2019s Cabinet members, in Mexico City, June 20, 2024. Sheinbaum, right, chose Ebrard as her administration\u2019s economy secretary. (AP Photo\/Marco Ugarte, File)<\/figcaption><\/figure>\n

Mexico\u2019s top economic official has suggested his country will actively take the U.S. side in looming trade battles with China<\/a><\/span>.<\/p>\n

\u201cThere is a dispute between China and the United States, stronger now than it was a few years ago,\u201d Economy Secretary Marcelo Ebrard said at a business forum on Tuesday. \u201cAnd we now have a plan for a route to follow.\u201d<\/p>\n

\u201cWhat will be the main idea, the main design of that route?\u201d Ebrard said. \u201cTo mobilize all legitimate interests in favor of North America.\u201d<\/p>\n

For example, he said it will be in Mexico\u2019s own interest to welcome nearshoring, which tends to move production from plants in Asia to Mexico.<\/p>\n

\u201cOur second most important mission is to accelerate nearshoring, to take advantage of it one thousand percent,\u201d Ebrard said.<\/p>\n

He said Mexico\u2019s domestic content in manufacturing exports is currently less than 20%, and that Mexican officials are looking at \u201chow we can reduce all the imports we have, that is, to increase domestic content in any way we can.\u201d<\/p>\n

He said the government would be working with individual companies to get suppliers and parts producers to also move to Mexico.<\/p>\n

\u201cOur mission is not just to increase our market share, but to increase what is produced in Mexico,\u201d Ebrard said. \u201cBy necessity, we have to work with each company, we have to dedicate funding, personnel, perseverance and follow-up, to get those numbers up.\u201d<\/p>\n

Mexico once largely exported oil to the United States, but now manufacturing exports of products like cars, trucks, machinery and appliances dwarf the oil trade.<\/p>\n

In 2023, for the first time in more than two decades, Mexico displaced China as the leading supplier of imported products<\/a><\/span> to the U.S. market.<\/p>\n

– AP News<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Mexico\u2019s top economic official has suggested his country will actively take the U.S. side in looming trade battles with China. \u201cThere is a dispute between China and the United States, stronger now than it was a few years ago,\u201d Economy Secretary Marcelo Ebrard said at a business forum on Tuesday. \u201cAnd we now have a plan…<\/p>\n","protected":false},"author":124,"featured_media":8981,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"fifu_image_url":"https:\/\/dims.apnews.com\/dims4\/default\/f3c5b7f\/2147483647\/strip\/true\/crop\/5616x3742+0+1\/resize\/980x653!\/format\/webp\/quality\/90\/?url=https%3A%2F%2Fassets.apnews.com%2F9c%2Fbf%2F872aee93af3b78fffa3418f617f4%2Fe354ad89a81b435fae2101b7db8d2283","fifu_image_alt":"","footnotes":""},"categories":[189],"tags":[],"class_list":["post-8980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-borders-commerce"],"_links":{"self":[{"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/posts\/8980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/users\/124"}],"replies":[{"embeddable":true,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8980"}],"version-history":[{"count":1,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/posts\/8980\/revisions"}],"predecessor-version":[{"id":8982,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/posts\/8980\/revisions\/8982"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=\/wp\/v2\/media\/8981"}],"wp:attachment":[{"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/latinamericasecurityreport.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}