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Mexico Surpasses Canada and China to Become the US’ No. 1 Trade Partner

? Mexico’s imports and exports to the US totaled $290.6 billion from January through July. Canada and China placed 2nd and 3rd with $288 and $280 billion, respectively. The reopening of the Mexico’s cross-border automotive production industry helped boost them to the top spot, after being shutdown temporarily through April and May.
? The top exports into Mexico from the US were gasoline/fuel, computer chips, auto parts, and computer parts. The top imports into the US from Mexico were computers, passenger vehicles, commercial vehicles, auto parts, and oil. Port Laredo is the primary gateway in the US-Mexico trade at $105.45 billion. That’s a staggering 350% lead over the Otay Mesa Freeway Border Crossing in California, who sits at 2nd place with $23.42 billion.
? China was at the top of the list from January through June. Their drop was no doubt caused by the current rift between them and the US, and the consequent tariffs on $500 billion of Chinese imports. However, five months still remain in 2020 – there’s no telling how much the placements will shift after the peak season.
Reference to Noi Mahoney’s article at FreightWaves.com