Fender already had to move Squire out of Japan and into Mexico. The Japanese Squires were developing an epic reputation. Still very highly coveted.
Squires are made in Korea, Indonesia and mostly China. Made in Mexico Fenders are the next cut up.
In reality almost all guitars not made in the USA are made by three companies, Samick, Cort and WMIC. And many USA brands use “ghost” parts that carry the name of a domestic company but are made under license overseas. Good explanation here...
https://www.youtube.com/watch?v=cqV-hJeRIBc