Mexico is planning to establish a “task force” to involve US companies in the process of reducing imports from China, the country’s economy minister told a group of auto suppliers at a private meeting Friday in Detroit.

Mexican President Claudia Sheinbaum has announced a set of tax and financial incentives to encourage nearshoring and a plan to further curb the entry of cheap Chinese imports. She presented the country's industrial policy, Plan Mexico, to government officials and business leaders at the National Museum of Anthropology in the country's capital.

By Alek Buttermann Mexico’s President, Claudia Sheinbaum, has unveiled a bold economic plan aimed at reducing imports from China, a move widely seen as a response to US President-elect Donald Trump's accusations that the country serves as a backdoor for Chinese goods entering the US market.

China has strengthened trade with Latin America at the expense of the U.S. But Donald Trump, who threatens to raise tariffs on Mexico, could upend those ties.

Mexico’s government on Monday launched a plan to shrink its yawning trade deficit with China and attract investment, in an olive branch to Donald Trump’s incoming US administration.

The European Union and Mexico revived a stalled free trade agreement on Friday, days before the return to the White House of Donald Trump, who has threatened both sides with tariffs.