Mexico’s government on Monday launched a plan to shrink its yawning trade deficit with China and attract investment, in an olive branch to Donald Trump’s incoming US administration.
Left-wing President Claudia Sheinbaum outlined “Plan Mexico” to try to boost national production in sectors from textiles to cars and reduce its trade deficit with China, which grew to $105bn in 2023.
The plan comes as Mexico tries to push back against claims by some American politicians that it is allowing Chinese goods to pass through the country into the US, as Sheinbaum tries to ease trade tensions with the president-elect as he prepares to return to the White House next week.
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