NAFTA Surface Trade Falls 28% in July
Surface transportation trade among the United States, Canada and Mexico plunged 28% in July from a year earlier, though rose from June, the Department of Transportation said Wednesday.
The downturn was the seventh straight year-over-year monthly decline of at least 27% among the North American Free Trade Agreement partners.
Trade rose 1.6% in July from June, DOT’s Bureau of Trade Statistics said in its monthly report.
Total truck imports to the United States fell 21.4% to $18.1 billion, while exports fell 20.8% to $18.8 billion.
Rail imports plunged 39.3% to $4.2 billion, while exports fell 41.7% to $2.7 billion. Pipeline imports fell 50.6% to $4.2 billion, while exports declined 57.8% to $259 million.
U.S.-Canada trade fell 33.8% to $31 billion. The value of truck imports to the U.S. fell 29% and the value of truck exports fell 24.3%.
U.S.-Mexico trade fell 17.1% to $20.5 billion. The value of truck imports fell 13.7% and the value of truck exports fell 14.7%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
