Publication Date: 05-06-2023
In 2022, trade between the United States, Mexico and Canada amounted to over $1.5 trillion, or close to $3 million per minute. This milestone underscores a remarkable double-digit growth over the past two years, and so far, Mexico and Canada remain the U.S.’s top trading partners. Moreover, the three countries currently account for almost a third of global GDP, with intra-regional goods commerce alone supporting a staggering 9.5 million or more jobs across North America.
Nevertheless, to sustain the track record of this vibrant partnership within the bounds of the new United States-Mexico-Canada Agreement (USMCA), the three countries must showcase their ability to swiftly resolve existing disputes, particularly those observed in the agriculture, automotive and energy sectors; these areas remain vital building blocks of the region’s long-term economic success. By proactively tackling these issues, the trilateral partnership can ensure continued growth and opportunities for all, as the USMCA enters its third year in operation.
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