Borderlands Mexico: Nearshoring boom brings more production closer to US

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Nearshoring boom bringing more production closer to US; Mexican and US officials sign agreement to expand international bridge; Old Dominion Freight Line receives approval for new terminal near Phoenix; and construction begins for 785,000-square-foot logistics park in Houston. Mexico registered a record $36 billion in foreign direct investment last year, a 2% year-over-year increase compared to 2022, according to data from the country's Economy Ministry. Nearshoring — the relocation of production and manufacturing operations from one country to another to be…