U.S.-NAFTA Trade Second Best on RecordFriday, May 30, 2014 > 12:42:49
Trade between U.S. and its neighbors, Canada and Mexico, rose by 6.2% year-over-year in March, totalling $101.5 billion, according to a new U.S. Transportation report.
Trucks carried 7.2% more trade between Canada and the U.S. in March. Rail, on the other hand carried 10.5% less trade because of a 15-percent drop in imports caused by less trade of vehicles and parts.
Overall, trucks carried 54.3% of the $56.6 billion of freight to and from Canada, followed by rail at 15.4%. The surface transportation modes of truck, rail and pipeline carried 83.7% of the total U.S.-Canada freight flows.
U.S-NAFTA trade has increased year-over-year in eight of the last nine months, interrupted by a 0.2-percent drop in January, caused by severe weather in the northern states and along the U.S.-Canada border.
In March, trucks carried 60.1% of U.S.-NAFTA trade, accounting for $31.2 billion of exports and $29.8 billion of imports.
The North American Free Trade Agreement (NAFTA) started in 1994 to create free trade between Canada, the U.S. and Mexico.