Reported 7 months ago
Following the USMCA adoption, the rise of Chinese electric vehicle (EV) imports in Mexico is causing worry in the US as they pose a threat to regional carmakers like GM, Ford, and Tesla. Chinese EV and plug-in hybrid imports to Mexico have surged by 443.9%, with one in ten cars sold in Mexico now coming from a Chinese automaker. Concerns have been raised in both countries about Chinese vehicles flooding the market and potentially bypassing US tariffs through Mexico. Legislators fear increased imports and investments could undermine domestic car manufacturing. Chinese firms are seeking to expand to regions with high growth potential and favorable trade agreements, prompting a review of trade rules and potential challenges to the USMCA.
Source: YAHOO