Mexico Replaces China as America’s Top Trade Partner, While China’s Foreign Trade Continues to Decline

A part of the urban area in the Mexican state of Nuevo Leon, where Tesla could build a new electric car plant, in San Pedro Garza Garcia, Mexico, on Dec. 19, 2022. Daniel Becerril/Reuters

Mexico has become the largest trading partner of the United States, surpassing China and Canada, according to statistics released July 12.

The trade volume between the United States and Mexico reached $263 billion in the first four months of 2023, wrote Luis Torres, a senior business economist at the Federal Reserve Bank of Dallas in a post. Trade between the two countries accounted for 15.4 percent of goods exported and imported by the United States, which surpassed totals for U.S. trade with Canada and China, which were 15.2 percent and 12 percent respectively.