“People are terrified of three things with China,” adds Dan Harris, attorney at law firm Harris Sliwoski: tensions between the country and Taiwan, its Covid-19 response, and rising prices and shipping costs. “And those three together have caused people to say, I’ve got to diversify. I’ve got to get out, and they’re willing to pay more to be in Mexico.”
Harris says: “People are finally waking up to the idea of Latin America. Even in the last six months, people are saying, I want to go into Mexico because I want to be selling more into Latin America. Or I want to go into Colombia, or Peru. People are starting to look at Latin America as a market.”