North American Trade by the Numbers
North American Trade by the Numbers
While we wait on USMCA ratification, trilateral trade between NAFTA members keeps growing. AS/COA Online takes a look, with a spotlight on U.S.-Mexico trade.
Updated September 26, 2019—For a good chunk of 2018, NAFTA’s renegotiation was surrounded by an air of uncertainty. Then, in November, the three members signed a deal known as the U.S.-Mexico Canada Agreement, or USMCA in the United States, CUSMA in Canada, and TMEC in Mexico. And now uncertainty surrounds the new deal’s ratification.
Meanwhile, trilateral trade among the partners of the original North American Free Trade Agreement isn’t just chugging along—it’s growing. In 2018, three-way trade surpassed $1.25 trillion, rising nearly 8 percent when compared to the prior year.
AS/COA Online takes a look at the facts, with a spotlight on U.S.-Mexico trade.
Elizabeth Gonzalez and Adán Toledo contributed to the chart.
