Mexico asks China to 'contribute': it wants it to buy more and not just sell
Mexico is urging China to create a more balanced trade relationship, advocating for increased purchases rather than solely focusing on sales.
Mexico is requesting that China work towards a more balanced trade relationship amid a significant trade surplus in favor of the Asian nation. This request comes in the wake of a working visit to Beijing by senior Mexican officials, including Deputy Undersecretary of Foreign Affairs María Teresa Mercado Pérez and Deputy Undersecretary of Industry and Commerce, Vidal Llerenas Morales. In meetings with China's Vice Minister of Commerce and Trade Representative Li Chengang, the Mexican officials stressed the necessity of promoting bilateral trade flows more evenly to strengthen supply chains that will contribute to the development of Mexico's national industry.
China has become one of Mexico's key trading partners but also represents a major source of trade deficit for the country, particularly in sectors such as manufacturing, intermediate goods, and capital goods. The Mexican delegation highlighted that the ongoing trade imbalances underscore the need for changes to ensure that both nations benefit from their economic interactions. The conversations also aimed to address concerns regarding the dependence of Mexican industries on Chinese imports, pushing for initiatives that could help stimulate greater Mexican exports to China.
This call for a more equitable trading environment illustrates Mexico's broader strategy to diversify its economic partnerships and mitigate vulnerabilities linked to heavy reliance on foreign products. As Mexico continues to navigate the complexities of global trade dynamics, the outcomes of these discussions with China could significantly influence future economic policies and practices, not only in trade with China but also in how Mexico engages with other international trading partners.