Mexico displaces Canada as second products supplier to the U.S.
Mexico displaced Canada as second products supplier to the United States, according to figures released by the Commerce Department first spotted by Bloomberg.
Exports from Mexico to the United States totaled US$ 245 billion for the first 10 months of 2016, while exports from Canada to the US came in at US$ 230 billion, the Commerce Department revealed. China remains the number one exporter to the U.S.
“If the trend continues, it would be the first time ever the U.S. bought more imports from its neighbor to the south. The two countries ended 2015 tied in exports to the U.S.”, says Bloomberg in its report.
Notably, the data from the Commerce Department suggests increased economic integration between U.S. and Mexico at a time when President-elect Donald Trump has repeatedly advocated a more protectionist agenda.
During his campaign, he criticized Mexico (along with China and Japan), proposed taxing imports from Mexico, and called the North American Free Trade Agreement (NAFTA) “the worst trade deal in the history of our country.”
– Nominee for Secretary of Commerce owns 8 automotive plants in Mexico
– Japan-based Mabuchi Motor sets plan to face protectionist policies
– No investments canceled so far since U.S. election, Mexican auto industry officials said