BEIJING (CAIXIN GLOBAL) - Chinese manufacturers are increasingly setting their sights on Mexico for bringing production closer to the American market, reflecting higher costs of Chinese exports under US tariffs and pandemic-related disruptions of global supply chains.
The 2018 trade war between China and the US was a catalyst in a manufacturing exodus from China as rounds of tariff levies almost wiped out the narrow profits of the garment and furniture manufacturing industries in China, forcing many producers to move factories abroad.
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