Chinese companies looked to Mexico more than most. Their investment in the country has surged. Mr Trump (who has already threatened to apply a tariff of 25% to Mexican imports “on day one” unless it stops migrants and drugs from illegally crossing the border) believes those firms are using Mexico as a tariff-free gateway to the United States.

E-commerce giants Amazon.com and MercadoLibre stand to benefit from new tariffs on low-cost imports into Mexico over Asian retailers like Shein and Temu, according to analysts at Itau BBA.

Business leaders in Mexico say the incoming U.S. administration will enhance the appeal of their factories as an alternative to plants in China.

The three countries under threat of new or increased tariffs by President-elect Donald Trump have not reacted kindly to the bad news.

MEXICO CITY - Mexico's tax authority SAT issued new tariffs on Tuesday, which it said will strengthen the surveillance of goods from Asia, a measure that could impact popular online retailers like Shein and Temu.

US President-elect Donald Trump set out some of the major policies he wants to implement over the next four years during a press conference held on January 7. While addressing Washington DC's future foreign policy and how he will tackle immigration, Mr Trump said he is planning to rename the Gulf of Mexico.

China countered U.S. President-elect Donald Trump’s claims about the Panama Canal. Brazilian labor authorities uncovered “slavery-like conditions” at a construction site for Chinese

US wins multibillion-dollar cross-border corn dispute with Mexico; China-based carrier launches new ship for Mexico trade route; Volkswagen moves Golf vehicle manufacturing to Mexico; and Parts Town opens Phoenix area distribution center.

“The Texas economy is deeply connected with Mexico in particular, and also with Canada,” he said. “A lot of the business that Texas does with Canada, of course, comes through the oil side of things, where we import crude oil from Canada and refine it on the Gulf Coast.

The incoming US president is intent on pushing through policies that may provoke Mexico to respond with tariffs of their own − or other measures that would hurt American consumers and US interests.

Victory in the U.S.-China trade war will go to the side that is best at persuading other countries that its version of globalization is the most attractive. The post Trump Has Lost the Plot on the U.S.