Mexico Plans Nearshoring Incentives to Curb China Imports

Trucks wait in line at the Ysleta-Zaragoza International Bridge port of entry on the U.S.-Mexico border in Juarez, Mexico. (David Peinado/Bloomberg)

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Mexico’s President Claudia Sheinbaum announced a plan to reduce the country’s imports from China in a bid to support local industry and align herself with the U.S. as a trade partner.

Amid a shrinking share of North American exports to the world, Sheinbaum stated that Mexico would offer incentives for nearshoring, including tax deductions, and develop plans for individual sectors for how to increase the local content of goods made in Mexico.

The new decree on incentives for both Mexican and foreign firms will be published Jan. 17.

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