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Economy & Business - February 2025
MEXICO: Plan México to boost national industry, keep China in check
President Claudia Sheinbaum unveiled her leftist government’s ‘Plan México’ on 13 January in a bid to boost national industry, curb imports from China, and capitalise on the trend towards nearshoring. The move was seen both as an attempt by Mexico to shrink a yawning trade deficit with China, which grew to some US$105bn in 2023, as well as a nod to US President Donald Trump, whose followers have accused Mexico of allowing Chinese companies to dodge US tariffs by acting as a “back door” for Chinese goods to enter the US.
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