Mexico’s expanding trade with China, as seen by a 64-per cent YoY rise in inspection and audit demand in 2024, along with the growth of nearshoring projects, has raised doubts as to whether Chinese businesses are increasingly using Mexico as a proxy to bypass US tariffs, QIMA said.
Nearshoring has been growing slowly in the West, and ‘multi-shoring’ and the use of regional supply hubs are growing.