economy
In 2023, one country overtook China to become the largest source of goods imported by the United States, helped by sitting right next door.
Mexico became the top US import source partly from geographic proximity, shortening shipping and cutting costs versus sourcing across the Pacific, and partly from nearshoring, moving production closer to the end market to shorten supply chains. Existing US-Mexico-Canada trade agreements also made Mexico attractive for reducing tariff and geopolitical exposure.
Germany is a major exporter but geographically distant, not the country that overtook China here. Brazil exports significant commodities too but didn't become the leading US import source in this period.
This shift reflects companies rethinking decades-old assumptions about cheapest manufacturing, weighing shipping distance and geopolitical risk alongside labor cost rather than chasing the lowest wage alone.
economy
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