This article highlights the recent changes in who the United states imports the most goods from on a yearly basis. The amount of total goods imported from China decreased by 20% last year. In contrast, the import numbers from Mexico are roughly the same as compared to 2022. Some economists believe that this is because tools such as Covid-19 testing kits and other pandemic related goods are not being traded as much now that the hysteria has started to die down.
Other economist believe that the Tariffs the Trump administrated are the reason that the numbers have dipped. It is theorized that the US could be obtaining the same amount of goods from China, but are getting them from other countries to avoid these Tariffs. Some people also think the war with Ukraine might be a reason the US is trading more with Mexico. The decrease in trade with China has made the US and South Korean relationship stronger than ever. This is because major companies in South Korea are now having facilities in the US. The export numbers to the United States from South Korea, has surpassed exports to China
Link
https://www.nytimes.com/2024/02/07/business/economy/united-states-china-mexico-trade.html
Thank you for the article. It is great to learn about the analysis of the shifting dynamics in U.S. trade patterns. There are multiple factors to affect the decrease in Chinese imports to the US, but I think geopolitics also played a part in it. The relationship between the U.S. and South Korea, which is mentioned in the article, is another example of these changes in trade patterns. Would this political tension impact the global economic landscape?
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