nearshoring

[neer-shawr-ing]

noun

1. the practice of relocating business operations to a nearby foreign country.

Example Sentences

Industrial projects spurred by 2022’s Inflation Reduction Act have been coming online, buoying demand, with fresh needs for space coming from reshoring and nearshoring.

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Mexico has benefitted from “nearshoring” – that is, the relocation of US and Asian firms from China to northern Mexico to bypass punitive US tariffs on Chinese exports.

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The triangular relationship between the US, China and Mexico is behind the buzzword in Mexican business: nearshoring.

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Mexico's increased trade with the US has also come about in part through a second key aspect of nearshoring in the country: US firms setting up Mexican facilities too, sometimes after relocating production from factories in Asia.

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Mr Dussel thinks nearshoring is better defined by what he calls "security-shoring", saying Washington has placed national security concerns above all other factors in its relationship with China.

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