NAFTA Surface Trade Plunges 31.5% in June
Surface transportation trade among the United States, Canada and Mexico plunged 31.5% in June from a year earlier, though rose from May, the Department of Transportation said Monday.
The downturn was the sixth straight year-over-year monthly decline of at least 27% among the North American Free Trade Agreement partners.
Trade rose 6% in June from May, DOT’s Bureau of Trade Statistics said in its monthly report.
Total truck imports to the United States fell 26.8% to $17.9 billion, while exports fell 23.9% to $18.9 billion.
Rail imports plunged 47.2% to $4.3 billion, while exports fell 40.1% to $2.7 billion. Pipeline imports fell 50.5% to $3.7 billion, while exports declined 50.6% to $219 million.
U.S.-Canada trade fell 36.6% to $31 billion. The value of truck imports to the U.S. fell 34.8% and the value of truck exports fell 28.8%.
U.S.-Mexico trade fell 21.8% to $19.7 billion. The value of truck imports fell 18% and the value of truck exports fell 14.3%.
Surface transportation consists largely of freight movements by truck, rail and pipeline. About 90% of U.S. trade among NAFTA partners moves by land.
