China remains the United States’ most important trading partner, followed by Mexico and Canada.
According to the most recent Census Bureau data, China was the United States’ largest trading partner in January, followed by Mexico and Canada.
China’s commerce with the United States grew 14 percent in January to $59.2 billion, with imports from China climbing 51 percent and exports to China decreasing 11 percent. In December, China was also the top trading partner of the United States.
Mexico surpassed Canada to take second place in January. Its total commerce with the United States grew 17 percent in the month to $56.9 billion, compared to the same period in 2021. Mexico was the United States’ top trading partner until last April.
Mexico’s exports to the United States increased 14.5 percent year on year in January to $33.2 billion. Imports from the United States grew 21.5 percent year on year in January, totaling $23.6 million.
In January, Canada placed third in total commerce with the United States, with $56.8 billion in total trade. In January, Canada exported $24.6 billion to the United States and imported $32.2 billion.
Japan, with $18 billion, and Germany, with $15.4 billion, were the fourth- and fifth-largest trading partners of the United States in January.
According to the most recent U.S. Census Bureau data collected by WorldCity, the Port of Los Angeles was the top-ranked port among U.S. gateways in December, followed by Chicago O’Hare International Airport.
Port Laredo in Texas was ranked third in December, with $21.4 billion in trade with the rest of the globe in January.
The World Trade Bridge, the Colombia Solidarity Bridge, and Laredo International Airport are all part of the port operated by the city of Laredo.
The top three exports from Port Laredo were vehicle components ($748 million), fuel ($311 million), and diesel engines ($285 million). Vehicle parts ($1.5 billion), passenger vehicles ($1.2 billion), and commercial trucks ($778 million) were the top three imports.
According to the city of Laredo, 207,867 commercial vehicles passed through Port Laredo’s two bridges in January, a 5.5 percent year-over-year increase over the same month in 2021.
A German manufacturer has announced a $300 million investment in Mexico.
Robert Bosch, based in Germany, recently announced plans to invest more than $340 million in Mexico.
On Friday, the business announced a $260 million investment in a new refrigerator plant in Monterrey. The 4.6 million-square-foot plant will manufacture up to 600,000 refrigerators for the North American market each year.
The facility’s construction will begin this summer and is expected to be completed in mid-2024. Once operational, the factory has the potential to create up to 1,500 jobs.
Bosch also recently announced an $84 million investment in the city of Aguascalientes in south-central Mexico to develop an auto parts facility. The 32,291-square-foot factory will manufacture braking systems for North American clients.
Bosch employs 60,000 people in 39 factories spread across 50 countries.
Walmart has announced the opening of a new distribution hub on the Texas Gulf Coast.
Walmart announced plans to build a new 1 million-square-foot distribution center at its supply chain campus in Baytown, Texas, on Thursday.
According to a press statement, the center will help the retailer’s expanding supply chain network.
“The Baytown campus and our other regional facilities enable us to give our local consumers more variety and efficiency than ever before,” Mike Gray, Walmart’s senior vice president of supply chain operations, said in a statement.
Baytown is located on Texas’ Gulf Coast, along the Houston Ship Channel.
The distribution center, which is expected to open by the end of the year, will be the fourth for the retailer in Baytown. The expansion will create 300 full-time positions and increase Walmart’s overall square footage to more than 5 million.
Walmart employs 185,000 employees in Texas and maintains 19 distribution hubs and 593 retail shops.
The development of a $1 billion USMCA logistics complex outside Mexico City has begun.
On Thursday, officials in Mexico hosted a groundbreaking ceremony for the USMCA Park Logistics Center, an industrial complex.
As part of the US-Mexico-Canada Agreement, the center attempts to increase international trade (USMCA). Airport and train services will be available at the multimodal logistics and industrial complex.
The project will cost $1.2 billion and may create over 65,000 employment in Nextlalpan, a town roughly 25 miles north of Mexico City.
The park will be built in three stages, with the first phase expected to be completed in 2023.
USMCA Park Logistics Center will be developed and managed by E-Group, a commercial real estate development firm based in Mexico City.
