Borderlands: A Weekly Rundown
The United States-Mexico cross-border trucking and trade landscape continues to evolve. Here are some key developments from this week:
US-Mexico Trade Hits $74B in August
- The U.S.-Mexico trade totaled $73.77 billion in August, marking a 4% increase from the same month last year.
- This was the eighth consecutive month and 18th of the past 19 months that Mexico has been No. 1 in trade with the U.S.
- Port Laredo Remains No. 1 Again
- Through the first eight months of the year, trade between the U.S. and Mexico totaled $560 billion.
Major Exports from Mexico to the US
The top three exports from Mexico to the U.S. during the month were:
Computers ($4.72 billion)
Passenger vehicles ($4 billion)
Auto parts ($3.3 billion)
Top Imports from the US to Mexico
The top imports from the U.S. to Mexico in August were:
Gasoline and other fuels ($3 billion)
Auto parts ($1.74 billion)
Computer parts ($1.73 million)
Nearshoring Continues to Boost Cross-Border Trade
Jordan Dewart, president of Redwood Mexico, notes that nearshoring foreign direct investment continues to grow in Mexico.
“We track nearshoring foreign direct investment and we continue to see more new players investing in Mexico, existing expansions,” Dewart said. “Some companies are playing the wait and see game pending the results of the upcoming U.S. election, notably Tesla.”
Cross-Border Trucking Capacity Continues to Climb
Dewart also noted that demand for cross-border trucking capacity continues to climb but is being affected by Mexican driver shortages and cargo theft issues.
“Volumes that we handle are up significantly, year over year, and this may be due to our diverse customer base including healthcare, food & beverage, automotive, retail and manufacturing,” Dewart said.
Source: Yahoo News