NAFTA Freight Flows Continue to Rise Ahead of Renegotiation
The value of monthly freight flows between the U.S. and its NAFTA partners totaled $98.2 billion in May, up 7.8 percent from April and 9.4 percent from a year earlier, according to Department of Transportation statistics. The year-on-year increase was the seventh consecutive month of such gains and comes as the three countries prepare to launch talks on renegotiating the agreement on Aug. 16.
The value of total U.S. trade with Canada jumped 8.9 percent from April to May to $51.2 billion and was up 11.4 percent from a year earlier. The value of U.S. trade with Mexico saw gains of 6.8 percent from the previous month and 7.2 percent from May 2016.
Vehicles and parts retained their position as the top commodity category for all modes transported between the U.S. and Canada and between the U.S. and Mexico.
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