Mexico’s President Claudia Sheinbaum unveiled a new economic strategy on Monday which includes plans to reduce imports from China, as Mexico comes under pressure from the United States and Canada.
Plan Mexico aims to reduce the Mexican textile and auto industries’ dependence on Chinese imports, and help Mexican steel producers, who have accused China of undercutting their prices in the market.
Sheinbaum also defended the U.S.-Mexico-Canada (USMCA) trade pact, which is up for review in 2026.
She said, “It has proven to be one of the best trade agreements in history, and it is the only way we can compete with Asian countries, particularly China.”…