America’s biggest trading partner is now Mexico

News Snapshot:

Mexico has overtaken China as America’s biggest trading partner as the US looks to import goods closer to home and minimize its reliance on geopolitical rivals, according to Bloomberg. America’s southern neighbor made up 15% of US imports in July, compared to 14.6% from China, according to data analyzed by the outlet. The number of Chinese shipments in July were at their lowest level since the start of COVID, dropping by 14.5% in July compared to the same month last year, according to data released by Beijing last month. The findings also showed that imports fell by 12.4% as the...