Correct, but if you factor in manufacturing, China is still ahead. A lot of stuff is “Assembled” in Mexico and the US but the assembly still often originates in China.
EDIT:
To clarify. Components are manufactured in China and then shipped to NAFTA Countries for final assembly and QC
The US is now buying more from Mexico than China for the first time in 20 years.
With that being said, I’m not sure the trade war does any good in the long run.
Correct, but if you factor in manufacturing, China is still ahead. A lot of stuff is “Assembled” in Mexico and the US but the assembly still often originates in China.
EDIT: To clarify. Components are manufactured in China and then shipped to NAFTA Countries for final assembly and QC
https://link.springer.com/chapter/10.1007/978-981-99-6248-8_6
https://www.chicagofed.org/publications/blogs/midwest-economy/2019/what-do-we-know-about-the-origin
https://princemanufacturing.com/inclusive-rules-of-origin-in-mexico-five-things-you-need-to-know/
More like China is funneling more through Mexico to get around current Tariffs.