While trucking between the US and its neighbors Canada and Mexico are profitable, something that companies like Titan Transline can attest to, China remains the US’s biggest trading partner for the year 2020.
According to data from the US Census Bureau, China’s total trade with the US went up 28% to $52bn in January of 2021, with imports into the country going up by 18% to 39bn. This marks the 10th consecutive month where China was the US’s top trading partner.
Mexico was 2nd, with total trade with the US dropping to $48.5bn in that same month, a 1.3% drop from the same time frame in 2019. Canada followed at 3rd, with trade totaling at $45.8bn.
Data from World City notes that the top imports from China into the US were cell phones, related equipment, computers, and plastic articles.
Meanwhile, US exports to China went up to 13bn in January 2021, a whopping 79% increase from the same month 2020, with the top US exports to China being computer chips, soybeans, and oil.
Mexico, briefly, ended up as the US’s #1 trading partner during the end of 2019, but the COVID-19 outbreak hit cross-border logistics and trade between it and the US particularly hard, with the supply chain connecting the two countries being disrupted.
US exports to Mexico dropped by 6.5% to 19.4bn in January, a drop of 6.5% compared to the same time period.
Meanwhile, US imports to Mexico went up a bit, with a 2.5% increase to 2.9bn in January, with passenger vehicles accounting for $2.7bn, followed by commercial vehicles and motor vehicle parts, both totaling at $2.1bn for each. World City broke down the data, noting that the top US exports to Mexico were gas and other fuels, totaling to $1.6bn, followed by motor vehicle parts and computer chips, at $1.1bn, $935mn, respectively.
Mexico’s automotive industry is seeing some recovery, which has been good for cross-border trade in Texas, with Laredo seeing a 4.9% to $18.9bn in January 2021.
Port Laredo, notably, remained the #3 ports in the US, with the Port of Los Angeles sitting at #1. Notably, trade with Mexico accounts for 98% of total trade traffic in Laredo, accounting for $18.5bn, with China following at a distant $103mn.