For the first time, Mexico is the main trading partner of the United States, over Canada and China
The total value of the commercial exchange between Mexico and the United States in the first quarter of the year was 151 billion dollars, which places Mexico as the main trading partner of the United States, exceeding the 146 billion dollars of Canada and the 132 Billion Dollars from China, according to the analysis made by WorldCity, Inc., based on the latest information from the US Census Bureau data.
The main United States imports from Mexico during the first quarter of the year were motor vehicles for transporting people, with an increase of almost 13% over last year; parts of motor vehicles that increased by 3.38%, computers whose import grew 5.71%, commercial vehicles to the rise in 11.61, and oil, which fell 12.45%.
As for the main exports from the United States to Mexico, gasoline and other fuels increased by almost 6%; parts of motor vehicles had a slight increase of 1.15%; computer parts went up 28%; low-value shipments had a small increase of .11%, and computer chips increased by 11.79%.
Imports and Exports between Mexico and the USA – Mexicom Logistics with World City info
37% of the transportation of merchandise between the United States and Mexico is made through Laredo. In that port, exports from the United States fell by 2.53% and imports from Mexico to the United States grew by 4.8%.
Info from: https://www.ustradenumbers.com/country/mexico/
Three key elements that frame the commercial relationship between Mexico and the United States
1. Three years ago, China positioned itself as the largest trading partner of the United States, but merchandise traffic between the two countries has been reduced due to the protectionist measures of President Donald Trump. The United States is maintaining a trade war with the Asian country, which at this moment has benefited Mexico.
2. The new commercial agreement between the United States, Canada, and Mexico is in the process of being approved by the Congresses of the three countries. President Trump recently agreed to eliminate the tariffs he had imposed on aluminum and steel from Mexico and Canada, which marks a step forward towards the approval of the T-MEC. More on this topic, here.
3. In April, there was a tension between Mexico and the United States, since the border between the two countries was partially closed in retaliation against the wave of migration to the US.
Sources:
Imagen sobre los puertos: https://www.ustradenumbers.com/country/mexico/
https://elpais.com/economia/2019/04/23/actualidad/1556043437_225021.html
