In 2021, Mr. Villarreal resigned as Caterpillar’s director general in Mexico and began nurturing ties with companies looking to shift manufacturing from China to Mexico. The United States’ trade deficit with China narrowed last year, with goods imports from the country dropping 20 percent to $427.2 billion, the data shows. Like Mexico, South Korea is subject to lower tariffs because it has a free trade deal with the United States. Sung agreed that increasing American skepticism of China was pushing the United States and South Korea closer together. The post For First Time in Two Decades, U.S. Buys More From Mexico Than China appeared first on New York Times.