Mexico takes the US side in potential trade battles with China and seeks to boost local content

MEXICO CITY (AP) — Mexico’s top economic official is suggesting that his country will actively take the U.S. side in looming trade battles with China. Marcelo Ebrard said that Mexico will use the situation to try to boost domestic content in its exports to the United States. He said at a business forum on Tuesday that it will be in Mexico’s own interest to welcome near-shoring, which tends to move production from plants in Asia to Mexico. Mexico’s domestic content in manufacturing exports is currently less than 20%, and one way to solve that would be to get suppliers and parts producers to also move to Mexico.