When Israel was a young man, I loved him like a son, and I summoned my son out of Egypt.
Here and in verse 4 reference is made to God’s deliverance of Israel from slavery in Egypt. Jesus, as the true Israel, was also brought out of Egypt in accordance with this prophecy (Matt. 2:15).
It might be difficult to make this connection when we read the entire context, but Kevin DeYoung explains:
In the gospel of Matthew, Jesus is cast as the true and faithful Israel. Matthew is retelling Israel’s well known story, but he’s putting Jesus right in the middle as the main character in the story. Jesus is the new Israel.