The Future Is Plastics (NYSE: LYB - $98.72)
The macroeconomic landscape has been going through drastic changes in the last few years as supply chains are domesticated, regionalized, or actively being shifted to friendly, white-listed countries. Though the effects aren’t as apparent as one would expect, China’s exports to the US in 2022 amounted to $583b, now surpassed by the combination of Mexico and Canada, according to UN COMTRADE. The biggest imports from China include electronic equipment and machinery, nuclear reactors, and boilers. Overall, the top imported products in the US are cars ($139b) and crude oil ($120b). Though China still remains the top trading partner with the US, their strength is being challenged as materials and assembled products are shifting to other APAC countries.