This shift of a decades long trend comes amid heightened economic and geopolitical tensions between the US and China. As a result, US companies have been diversifying their production out of China. Even Apple, which makes most of its products in China, is starting to diversify its supply chain out of the country and into a number of others throughout Asia.
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00:00 For the first time since 2003, the U.S. is importing more goods from Mexico than China.
00:06 The shift of decades-long trend comes amid heightened economic and geopolitical tensions
00:10 between the U.S. and China.
00:12 As a result, U.S. companies have been diversifying their production out of China.
00:16 Even Apple, which makes most of its products in China, is starting to diversify its supply
00:21 chain out of the country and into a number of others throughout Asia.
00:25 Here's a little chart showing where Mexico is catching up to the Chinese imports into
00:29 the U.S.
00:30 Mark, how do we feel about Mexico taking up some of China's trade exports?
00:35 I love it, Brian.
00:36 I would like to take a moment to thank our friends south of the border for doing their
00:42 part to support the world as a whole, to really come together.
00:46 You know, Mexico, they are like our younger brother that we're helping them, you know,
00:51 play Little League, teach them how to throw a baseball, all that stuff.
00:56 One thing that stuck out to me one time when I was in Mexico is someone says to me, you
00:59 know, "We're just as corrupt as you guys are.
01:02 You guys just actually try to hide it.
01:04 We don't."
01:05 Which I thought was a fair comparison when you think about everything going on in politics
01:08 these days.
01:09 But look, I love this.
01:10 Honestly, we need more Mexico, more India, everyone but China, Russia, and North Korea.
01:15 Now that North Koreans are meeting with the Russians.
01:19 More Mexico.
01:20 Arriba.
01:21 Bueno.
01:22 Bueno.
01:23 Más o menos?
01:24 Más.
01:25 (upbeat music)