The incoming Mexican government led by President López Obrador (“AMLO”) has highlighted the “unfavorable” imbalance in trade with China. A focus on correcting the trade deficit would bring AMLO-administration policy inline with that of President Trump’s in the U.S. The Mexican trade deficit vs. China has widened after imports from China rose 8% in the 12 months to June 30 vs. a 1% rise in exports resulted in a $91 billion deficit. That’s equivalent to 91% of total trade and suggests trimming imports will have more leverage in cutting the deficit than just raising exports. Tariffs – the p...