Shore News Network on Nostr: KENNETH RAPOZA: Mexico Is Becoming China’s Mini-Me ========== Mexico is becoming ...
KENNETH RAPOZA: Mexico Is Becoming China’s Mini-Me
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Mexico is becoming China's mini-me as American companies invest nearly $7 billion in Nuevo Leon, Mexico. The concept of nearshoring, which began with President Trump's tariffs in 2018, aimed to derisk from China and reshore manufacturing. The United States-Mexico-Canada Agreement (USMCA) allows duty-free trade between the United States and Mexico, leading to a surge in imports from Mexico. Senators Tom Cotton and Sherrod Brown introduced the Stop Mexico's Steel Surge Act to impose a 25% tariff on Mexican steel pipes, and Sen. Josh Hawley introduced a bill to place 100% tariffs on China EVs made in Mexico. Mexico's drug war and cartel activity pose risks to workforces and supply chains. The author argues that Mexico will be worse than China when it comes to trade problems as Washington lacks leverage and cannot get Mexico to police its border or help stop the fentanyl crisis.
#Mexico #China #Trade #Nearshoring #Usmca #Tariffs #Steel #Evs #DrugWar #Cartels
https://www.shorenewsnetwork.com/2024/03/27/kenneth-rapoza-mexico-is-becoming-chinas-mini-me/
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Mexico is becoming China's mini-me as American companies invest nearly $7 billion in Nuevo Leon, Mexico. The concept of nearshoring, which began with President Trump's tariffs in 2018, aimed to derisk from China and reshore manufacturing. The United States-Mexico-Canada Agreement (USMCA) allows duty-free trade between the United States and Mexico, leading to a surge in imports from Mexico. Senators Tom Cotton and Sherrod Brown introduced the Stop Mexico's Steel Surge Act to impose a 25% tariff on Mexican steel pipes, and Sen. Josh Hawley introduced a bill to place 100% tariffs on China EVs made in Mexico. Mexico's drug war and cartel activity pose risks to workforces and supply chains. The author argues that Mexico will be worse than China when it comes to trade problems as Washington lacks leverage and cannot get Mexico to police its border or help stop the fentanyl crisis.
#Mexico #China #Trade #Nearshoring #Usmca #Tariffs #Steel #Evs #DrugWar #Cartels
https://www.shorenewsnetwork.com/2024/03/27/kenneth-rapoza-mexico-is-becoming-chinas-mini-me/