US imports from Mexico surpass China

News Snapshot:

For the first time in two decades, US imports from Mexico surpassed those from China, according to a study reported by the New York Times, signaling a shift in global trade due to tensions between the US and China. The US’s trade deficit, which represents exports minus imports, with China fell 20 percent to $427.2 billion last year, noting that consumers and businesses in the US also turned to Canada and countries in Europe and Asia to import goods such as auto parts and raw materials. Meanwhile, exports from Mexico to the US were worth $475.6 billion, staying close to...