MEXX - Nearshoring Brings A Focus On Mexican Peso

2024-02-17 02:01:00 ET

Summary

• Mexico became the largest U.S. trading partner in 2023, totaling 15% of U.S. imports.
• Mexico is poised to benefit from nearshoring, a growing trend that’s encouraging U.S. firms to manufacture goods close to home.
• In 2023, Mexico passed China as the largest importer to the U.S., accounting for 15% of total U.S. imports, according to data from the U.S. Commerce Department.

Originally posted on February 15, 2024

By Ivan Castano

At A Glance:

• Mexico became the largest U.S. trading partner in 2023, totaling 15% of U.S. imports.
• As the Mexican peso climbed in 2023, trading in Mexican peso futures increased to $1.8 billion daily.

Mexico is poised to benefit from nearshoring, a growing trend that's encouraging U.S. firms to manufacture goods close to home. That places a renewed focus on trade and increased attention from investors on the rising Mexican peso....

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