Mexico Unveils Economic Plan to Curb Chinese Imports and Boost Domestic Growth
Mexican President Claudia Sheinbaum on Monday introduced a sweeping economic plan aimed at reducing dependence on Chinese imports while strengthening Mexico’s position as a top global economy. The announcement comes amid trade tensions with the U.S., where President-elect Donald Trump has accused Mexico of serving as a conduit for Chinese goods entering the American market.
Defending the USMCA and Addressing U.S. Concerns
Sheinbaum reaffirmed Mexico’s commitment to the U.S.-Mexico-Canada Agreement (USMCA), emphasizing its importance in competing with China. “The USMCA is the cornerstone for economic cooperation in North America,” she stated. The trade pact, up for review in 2026, has been under scrutiny due to Trump’s allegations that Mexico is a “back door” for Chinese goods to bypass U.S. tariffs.
In response, Mexico has intensified its crackdown on contraband goods from Asia and imposed tariffs on major e-commerce platforms like Shein and Temu.
Ambitious Goals for Economic Growth
Sheinbaum’s plan sets ambitious targets to position Mexico among the world’s top 10 economies by 2030, up from its current 12th place. Key elements include:
- Local Sourcing Boosts: Encouraging domestic production in sectors heavily reliant on Chinese imports, such as textiles, automotive, and steel.
- Increased Investment: Raising investments to 28% of GDP to fuel industrial growth and infrastructure.
- Job Creation: Generating 1.5 million manufacturing jobs by reducing bureaucratic hurdles and promoting local industries.
“Our vision is to make the American Continent the region with the greatest potential and development in the world,” Sheinbaum said.
A Pro-Growth, Business-Friendly Shift
Sheinbaum’s approach represents a marked departure from the policies of her predecessor, Andres Manuel Lopez Obrador, who often clashed with private firms. Her administration aims to leverage trade agreements, enforce stricter customs policies, and implement tariffs to protect domestic industries.
Economy Minister Marcelo Ebrard praised the collaborative nature of the plan, calling it “a navigational chart for the new era we are entering,” and thanked private-sector representatives for their input.
Environmental Commitments and Sustainable Energy
In addition to economic reforms, Sheinbaum outlined plans to transition 45% of Mexico’s energy grid to sustainable sources. As a climate scientist, she underscored her administration’s commitment to balancing economic growth with environmental sustainability.
President Sheinbaum’s economic plan seeks to chart a new course for Mexico’s growth, addressing U.S. concerns about trade with China while fostering domestic innovation and sustainability. By reducing reliance on imports and boosting local industries, Mexico aims to solidify its position as a global economic leader.